Construction is targeted for April on a Mound Business Park global tenant’s expansion that is expected to create 45 high-wage jobs.
Excelitas Technologies will add to its 160 employees as part of a multi-million dollar expansion that will get a 15-year Miamisburg tax abatement and a $175,000 Montgomery County Economic Development/Government Equity grant, records show.
The Mound Development Corp. is guaranteeing an investment of more than $6.5 million for a 30,000 square foot building addition at 1100 Vanguard Drive, said MDC President Eric Cluxton.
The expansion would give the Massachusetts-based company a $13 million annual payroll by 2022, records show.
“This is a big deal,” Cluxton said of the package approved by Miamisburg City Council on Tuesday night. “This isn’t manufacturing (jobs). This is executive office level positions.”
The concept, he said, is that Excelitas lease the new building for 10 years and will have an option to buy it afterward.
“This is fantastic,” Cluxton said. “To see construction on land at Mound, where we have now virtually leased or sold all existing buildings and now we’re expanding (with) construction for company growth, this is a fantastic opportunity for Mound, the city of Miamisburg and the region.”
Attempts to reach Excelitas officials on Wednesday were unsuccessful.
Cluxton said he plans Friday to talk with company executives officials to “fine tune” some financial issues, including lease arrangements.
The construction is expected to take about a year, with occupancy projected for the first quarter of 2020.
Excelitas Technologies was formed in 2010, according to its website. It provides customized optoelectronics and advanced electronic systems to a global customer base.
The company has more than 25 offices in North America, South America, Europe and Asia.
The 306-acre Mound Business Park now has about 15 businesses with nearly 300 employees.