Ohio awards Intelligrated $24 million incentive package
Details include low-interest loans, job creation tax credit
Staff -- Modern Materials Handling, 11/4/2009
Intelligrated, a leading American-owned automated materials handling solutions provider, announced yesterday that it has accepted more than $24 million in financial incentives from the state of Ohio. In conjunction with the Ohio Department of Development (ODOD), company executives formally accepted the comprehensive package during Ohio Governor Ted Strickland’s visit to Intelligrated’s manufacturing facility in West Chester, Ohio.
The state’s incentive package accelerates the company’s efforts to integrate the operations of recently acquired FKI Logistex and expand its facilities in West Chester, London and Mason, Ohio. During the three-year period of the project, Intelligrated will retain 537 full-time positions and create 267 new jobs in Ohio.
The incentives include low-interest research and development investment loans and Ohio enterprise bond fund loans from Ohio’s DFAC to the Butler County Port Authority to support costs associated with the acquisition of a 282,000-square-foot manufacturing facility in West Chester to be leased to Intelligrated.
The Ohio Job Creation Tax Credit Authority also awarded Intelligrated an Ohio Job Creation Tax Credit to support the project in Butler County as well as expansions in Mason and London. The company is required to maintain operations at the project site for 13 years. Another project earmarked in the funding is the integration and upgrade of the FKI Logistex and Intelligrated enterprise resource planning (ERP) systems to enhance productivity and order management.
“Intelligrated deeply appreciates Ohio’s generous commitment to our company, our employees and our industry,” said Chris Cole, CEO of Intelligrated. “The incentive package sends a message of the importance of retaining high quality manufacturing jobs in the state. It also underscores the strategic role of Intelligrated’s world-class material handling solutions to Ohio’s plan of becoming the premier international gateway and logistics hub in North America.”
Cole credited Intelligrated, Strickland, the Ohio Department of Development, Senator Widener, the City of London, Madison County, the City of Mason, the Township of West Chester and the Ironworkers Shopmens Local 522 union with having worked together to make this initiative possible.
Strickland and Lisa Patt-McDaniel, director of the Ohio Department of Development, both announced the state’s commitment to support Intelligrated’s economic development projects.
“Ohio is committed to maintaining and growing quality manufacturing jobs, while continuously innovating the way we make products and deliver them to the world,” Strickland said. “We want to thank Intelligrated for their investment in Ohio and for their dedication to strengthening the material handling and logistics industries in our state.”
“Ohio’s strengths as a logistics and distribution leader create opportunities for companies seeking to leverage our state’s resources and location as a great place to invest,” said Patt-McDaniel. “Intelligrated has grown into a leader in the highly competitive logistics industry; we are very pleased they have chosen to continue to expand in Ohio.”
Intelligrated’s commitment is contingent upon the State Controlling Board final approval and Intelligrated’s review of detailed requirements to implement these incentives.
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