@8:25 a.m.: A Centerville company plans to buy a Miamisburg building and consolidate its business on Byers Road.
Aeroseal LLC intends to purchase 225 Byers Road, property currently leased by Evenflo for its headquarters, according to Aeroseal Chief Financial Officer Dan Crowe.
The Centerville firm now operates out of facilities on South Metro Parkway and its headquarters on South Suburban Road.
A relocation agreement for the move was approved by Miamisburg City Council on Tuesday night.
The possible purchase by a growing Centerville firm of a Miamisburg building which houses a company headquarters may help keep and add more than 200 jobs in the area.
The buying of the building at 225 Byers Road that Evenflo leases is part of a deal the city of Miamisburg is looking to make with Aeroseal LLC of Centerville, where the machinery manufacturer has outgrown its two locations, records show.
Aeroseal would buy the building, providing the Centerville firm a chance to consolidate its 54 jobs – and add at least 20 more - at one site, according to the Miamisburg proposal.
Currently, Aeroseal’s operate at sites on South Metro Parkway and its headquarters on South Suburban Road.
The Aeroseal deal, meanwhile, would make it more attractive for Evenflo - which employs at least 130 people – to stay at the Byers Road site by leasing less space, Miamisburg Development Director Chris Fine said.
“Right now they’re under obligated (under) lease to pay for the entire building,” Fine said of Evenflo. “And they only probably need…..a third of the building based on the functions that they have there now.
“So this would allow them to drop back and pay for only the portion of the building that they need, which would reduce their costs and hopefully keep them here,” Fine added.
Attempts to reach Aeroseal officials on Monday were unsuccessful. The 2016 deal with Evenflo called for the maker of infant care products to maintain 65,000 square feet.
Fine said the city’s talks with Evenflo about its future would not begin until a decision is reached on Miamisburg’s proposal with Aeroseal, which is set to be considered by city council tonight.
Evenflo in 2016 agreed to a five-year lease deal – part of a $2.3 million modernization project – to keep about 130 jobs at the Byers Road site with a plan to add about 20 more workers.
Evenflo’s $12 million payroll generates about $260,000 annually for the city, according city data, and the 2016 deal included $175,000 in county funds.
The 2016 agreement also enhanced the company’s Piqua manufacturing operations, where it employs more than 300, an Evenflo executive said at that time.
The Evenflo site is owned by Byers Road LLC, which bought the 8.4-acre site in April 2001 for an unlisted price from Dayton Office Properties LLC, according to the Montgomery County auditor’s website.
Dayton Office Properties purchased the land from the Huffy Corp. in December 2000 for $2.75 million, records show.
Aeroseal would prefer to stay in Centerville, but has been unsuccessful in finding one site to suit its needs. Fine said.
Miamisburg is offering Aeroseal a job creation refundable tax credit, records show.
The company manufactures machinery to inject a patented aerosol sealant into HVAC duct work, according to Miamisburg records.
Miamisburg would offer Aeroseal a five-year, 35-percent refundable tax credit as part of the relocation, records show.
Aeroseal has 54 employees and expects to hire at least 20 more in the next three years, creating a $4.9 million in annual payroll generating about $110,000 in new revenue for Miamisburg, records show.
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