Dana is back making things in Toledo! Dana Holding Corporation to Build New Axle Plant in Toledo
Mayor Paula Hicks-Hudson congratulated Dana president and CEO James Kamsickas following his announcement at Toledo Rotary this afternoon that Dana would build its new axle plant in Toledo. “We appreciate Dana’s investment in Toledo and look forward to continuing to work with them to make this project a reality and bring 300 new jobs here,” said Mayor Hicks-Hudson. “This project illustrates the importance of having job ready sites available in Toledo.”
Dana’s new investment is evidence of Toledo’s continued stature in manufacturing. The new plant will be located in the Overland Industrial Park, using and expanding the existing 100,000 square foot spec building constructed jointly with the Toledo-Lucas County Port Authority and the Harmon Group.
- $70 million capital investment
- Expanding spec building to 300,000 sq. ft.
- Projected creation of 300 new jobs
The City administration and Economic Development Department collaborated with partners including, the Port Authority, Jobs Ohio, Regional Growth Partnership and Lucas County to facilitate the project.
The City of Toledo is supporting Dana by providing:
- For a period of six years the Toledo Expansion Incentive will provide a grant to Dana equivalent to 30% of the Toledo income tax withheld from employees at the site. The value will be determined by actual job creation and payroll. Annual estimate is calculated at $76,000 per year.
- Property tax abatement through the City of Toledo Community Reinvestment Area is estimated to be $1.6 million.
- Engineering and planning support for water and sewer taps and site plan.
- Expedited permitting and approvals.
- Assistance processing and finalizing agreements.
Overland Industrial Park:
- The City of Toledo has been part of a united and focused effort to develop the Overland Site.
- The Port Authority purchased the property.
- The State of Ohio provided millions of dollars for site preparation.
- The US EPA provided support for environmental assessment and remediation costs for the site through the City of Toledo.
- The City of Toledo provided $660,000 in 2% funds for water and sewer infrastructure.
Posted by Stacy Weber on Monday, May 09, 2016.