An empty manufacturing building in Miami Twp. will become an additional location for Cornerstone Research Group.
The locally-based tech company — which researches and makes aerospace, defense and industrial products — expects to eventually employ 250 people at 8821 Washington Church Road site, with an average salary of $60,000.
FIRST REPORT: Company proposes adding 250 new high-skill jobs in Miami Twp.
The total project will cost about $10 million. Some operations will move to the newly acquired facility in June.
The building will be house offices, production lines and labs, effectively expanding services offered at its current location in Miamisburg.
The township helped the company get $200,000 in a Montgomery County Economic Development/Government Equity grant as an incentive to operate within our borders.
In October, the Ohio Tax Credit Authority also approved a nine-year tax credit valued at $2.5 million toward the company keeping jobs in Miamisburg and the new project in Miami Twp.
As part of the tax credit agreement, the state requires Cornerstone to maintain operations at the project site for at least 12 years.
PREVIOUS COVERAGE: Miamisburg approves income tax deal for Beavercreek firm to move to city
At the time, the company and township did not share where the new Miami Twp. location would be.
Cornerstone moved in November 2017 from Beavercreek Twp. to Miamisburg. Its corporate offices and most of its labs and development areas opened at a larger location at 510 Earl Blvd., Miamisburg. The site was formerly home to United Grinding North America.
At the time, Cornerstone was approved for a $225,000 grant to be paid out over five years to help fund the move, with funding through the Montgomery County Economic Development/Government Equity (ED/GE) program, which is county sales tax dollars shared among communities.
About the Author