A deal with a defense manufacturer that plans add 250 high-tech jobs at its new plant has been approved by Miami Twp.
The project agreement with Cornerstone Research Group Inc. that trustees voted for Tuesday night is tied to a $10 million investment package the Miamisburg-based is making after acquiring 60 acres at 8821 Washington Church Road.
The move approved by trustees allows township Administrator Ron Hess to execute a deal with CRG that involves $200,000 in Montgomery County Economic Development/Government Equity grant funds that were part of local and state incentives.
“We were very happy to be awarded through the (ED/GE) program $200,000 to contribute toward that project,” Miami Twp. Community Development Director Chris Snyder said.
He noted CRG’s “commitment both to Miami Twp. and the Miami Valley in keeping their operation here and expanding their operations. The CEO (Patrick Hood) in particular has been involved in a number of businesses in our area and we’re certainly excited to the amount of investment they are going to be able to bring to this facility.”
The company has said it is hiring for the new jobs – which will have an average annual salary of $60,000 – as it goes forward plans in June to start moving some activities to the 174,000 square foot site and prepares to nearly triple its workforce.
CRG last week announced a new Power and Energy Center that led to the company to begin standing up battery cell production at the new facility that was recently acquired.
“This new center lets CRG focus on rapidly expanding technologies such as advanced battery cell chemistries, cell fabrication, hybrid electric systems, wearable power technologies, power generation systems, advanced energy storage systems, power management, and distribution and conversion technologies,” according to the company’s website.
“The PEC already has multiple systems progressing towards procurement and is conducting research” for the Department of Defense, NASA and the Department of Homeland Security.
Cornerstone, which said last month it had 134 employees, moved from Beavercreek Twp. to an Earl Boulevard site in Miamisburg in 2017.
The new Miami Twp. jobs will translate into a $15 million in annual payroll, doubling the existing figures, records show.
Once the new building is fully occupied, the Miamisburg site will be used for composites development and manufacturing, according to CRG.
The Miami Twp. expansion was also aided by the Ohio Tax Credit Authority. In October, the authority approved a nine-year tax credit valued at $2.5 million for the project.
As part of the tax credit agreement, the state requires Cornerstone to maintain operations at the project site for at least 12 years.
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