Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with Superior Production, LLC dba The Superior Die, Tool and Machine Co. The Ohio Tax Credit Legislation (Section 718.15 of the Ohio Revised Code) authorizing such agreements became effective January 14, 1993 and requires the City to enter a Council-approved agreement between the City and a participating company.
Superior Production, LLC dba The Superior Die, Tool and Machine Co. was founded in 1913 by the Holstein family, and is headquartered in the Southeast business corridor of Columbus, Ohio. The company has been a manufacturer of automotive, agriculture and appliance dies and metal stampings for over 60 years. The Superior Die Tool & Machine Co. produces a wide range of products for light trucks, lawn, garden and agricultural applications. It provides a variety of products, including quarter panels, pillars, brackets, braces, hoods, back windows, dash panels, door inners, floor pans, fenders and bumpers. The company offers a variety of services, such as concentrator and conventional milling, die repair engineering changes, welding, die construction, stamping and emergency assistance. The Superior Die, Tool and Machine Co. serves various customers, including Honda, Ford Motor Company, Mack Truck, Tower Automotive, General Motors, Jefferson Industries and MTD Products. In addition, the company maintains a large inventory of equipment that includes welders, grinders, die separators, boring machines, lathes, radial drill presses, forklifts, saws and small conventional mills.
The Superior Die Tool & Machine Co. is proposing to invest approximately $7.45 million, which includes facility improvements, machinery, equipment, inventory, furniture and fixtures to expand its current operation. In addition, the company is proposing to create 35 new full-time permanent positions with an estimated annual payroll of approximately $1.1 million and retain 120 full-time jobs with a...
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