HAMILTON, Ohio -- Two new developments in Butler County could add more than 200 jobs to the area.
REDI Cincinnati said Monday that ThyssenKrupp Bilstein of America and the Sugar Creek Packing Company are planning expansions that will generate $28 million in capital investments for the Greater Cincinnati region.
The Ohio Tax Credit Authority recently approved an economic development proposal for ThyssenKrupp of America.
The proposal would mean that ThyssenKrupp would retain 381 jobs, create 214 and amount to a $26 million investment.
“ThyssenKrupp Bilstein of America is one of the best examples of a successful high-tech manufacturing company in the entire state of Ohio, and their sustained growth proves that,” said Johnna ReederPresident & CEO, REDI Cincinnati, in a release. “Recently Greater Cincinnati was ranked by KPMG as having the most favorable tax structure for businesses in the United States, and companies are discovering that because of factors like these, there isn’t even a need to look elsewhere. This is ‘the’ place to do business.”
ThyssenKrupp Bilstein of American makes components for the auto, construction and wind energy industries. The expansion would grow the company’s manufacturing capacity by 60,000 square feet. The company has already expanded twice between 2011-2013.
“With a talented workforce and pro-business partners on the local, regional and state level, we continue to find exactly what we need right here to continue our growth,” said Fabian Schmahl, President & CEO, ThyssenKrupp Bilstein of America, in a release.
Hamilton City Manager Joshua Smith said ThyssenKrupp is exactly the type of company city officials want to expand in their communities.
The tax board also approved an expansion project for the Sugar Creek Packing Company. The company said it will consolidate most of its corporate staff into a facility in West Chester and make that facility the company headquarters.
The move would mean 58 new jobs, retain 53 more and amount to a $2 million investment.