Company to locate in Piqua, Industrial Spring to employ 25Posted on February 2, 2013 by IDC Spring
COLUMBUS – Ohio Gov. John Kasich announced the approval of assistance for 11 projects statewide that will create a total of 410 jobs and retain 864. Of the 11 projects that received a green light from the Ohio Tax Credit Authority, which reviews economic development proposals, one deals specifically with the city of Piqua and a new employer which is moving forward with opening a facility in the area.
Industrial Spring Co., located in Minneapolis, Minn., also known as Industrial Door Company, expects to create 25 full-time positions and generate nearly $900,000 a year in annual payroll as a result of the company preparing to move to a new location in the city of Piqua, according to a press release issued by Kasich’s office this week.
The tax credit authority approved a 45 percent, five-year Job Creation Tax Credit for this project. The company manufacturers, installs and services garage doors. According to the company’s website, since 1974 Industrial Spring Company has manufactured the “highest quality garage door springs for garage door manufacturers, garage door wholesalers and garage door distributors throughout the Midwest.”
A company spokesperson could not be reached Friday afternoon and a location the company is moving
to could not be immediately identified.