The loan is one of a set of agreements consolidating Hooven-Dayton operations from Vandalia and Huber Heights to a recently vacated commercial property in Miamisburg.
“Otherwise, they wouldn’t have been able to make the project work,” Miamisburg Economic Development Director Chris Fine said.
During the five-year life of the loan, the city will forgive Mehland $54,000 annually in exchange for maintaining a $4.5 million payroll at the Byers Road plant. A $4.5 million payroll generates $101,000 a year in income tax for Miamisburg. Hooven also anticipates adding 10 jobs and $500,000 in payroll within three years.
The loan will help Mehland offset a $1.5 million investment in the building for Hooven-Dayton, which is expected to move its flexographic and digital printing operations from Huber Heights and Vandalia early next year. The company employs about 60 workers.
“It’s an incentive to get a company in town,” said Mark Metzger a partner in Mehland and Construction Managers of Ohio.
Hoover-Dayton expects to spend $300,000 moving into a plant vacated earlier this year by manufacturer Kurz-Kasch when it moved to Newcomerstown and Virginia.
The Hooven Automatic Typewriter Co. opened in 1912 in Hamilton in Butler County. The company was originally known for a device that duplicated text copies, called a Hooven. The company changed its name after moving to Dayton in the 1930s.
In 2007, it was acquired by the Che International Group, “a multi-national holding company specializing in acquiring and supporting subsidiary companies in diverse industries through joint ventures and acquisitions,” according to the company’s website.
Christopher Che, CEO of Che International Group and a native of Cameroon is a member of President Barack Obama’s Jobs and Competitiveness Council.
In June, the presidential council held its first national “listening session” at the Hooven-Dayton plant in Vandalia amid reports company revenues had grown $10 million in annual revenues since the CIG acquisition.
Area communities have established Business First guidelines for cases in which a company is considering a move within the Dayton area.
Miamisburg contacted Huber Heights and Vandalia about the Hooven-Dayton move, Vandalia City Manager Rob Anderson said.
Hooven-Dayton wanted to be closer to the owner’s home and a key customer, Cincinnati-based Procter & Gamble, Anderson said.
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