“We think this will really set the stage and create an image for the Miamisburg quadrant of the interchange,” he said.
The deal - which will move 100 jobs in the city and 40 others as the company consolidates Virginia operations here - involves at least $5 million in state and local incentives, documents show.
That includes the city’s construction of an access road connecting Byers and Old Byers roads, a project expected to cost at least $3.5 million. The road would start at Byers - about 1,500 feet north of Austin Boulevard - and extend less than half a mile east, documents show.
“This is not an easy project,” Miamisburg City Manager Keith Johnson sad this week after the city council approved the city’s incentives.
“This is not a simple project that we’re providing support and some space and the company’s moving in,” he added. “We had to put together a lot of pieces to make this work….It’s a very important project for the city.”
United Grinding spent more than six months considering other locations in Miamisburg, Montgomery County, other parts of the state, and in Illinois, Indiana and North Carolina before choosing the Austin area, Fine said.
The city’s package also included a $540,000 forgivable loan and “performance-based” job creation tax credits projected to be worth $400,000 to $500,000 annually, Fine said.
In return, United Grinding will add “at least 40” jobs and increase a payroll now at about $9 million by $3.6 million by the end of 2020, documents show.
Montgomery County has also approved a $250,000 Economic Development and Government Equity grant while the Ohio Tax Credit Authority last month approved what could amount to $518,000 in tax credits for United Grinding.