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Grant allows company to expand, create 41 new jobs

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By Thomas Gnau, Staff Writer Updated 6:15 PM Tuesday, February 2, 2010

Montgomery County commissioners voted Tuesday, Feb. 2 to pave the way for an local expansion by Composite Technologies Co.

In September 2009, commissioners initially approved a recommendation for a $125,000 grant to the company, a producer of molded plastic parts. The Montgomery County ED/GE (Economic Development/Government Equity) advisory committee recommended the grant.

The ED/GE process has two parts: First, the county considers the recommendations of the ED/GE advisory committee and then the county enters into a contract with local jurisdictions — in this case, the city of Dayton — as part of the allocation. The expansion will be in Dayton.

Composite Technologies plans to move and expand its mixing and molding division from Georgia to 943 Woodley Road, Dayton, according to its ED/GE application.

The company is expected to invest nearly $3 million in the project, including renovating a railroad track and installing eight silo pads. In total, the project is expected to retain 65 jobs and create 41 new ones — at an average salary of $44,000 — over three years.

Today’s commission vote was unanimous, said Joe Tuss, county economic development director.

Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.

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