On Wednesday, Hamilton City Council concurred with a pair of reports, one that provides a 60% property tax exemption for 15 years and a 55% job creation tax credit for seven years, and two, makes way for construction of a $10 million construction project.
This project will retain 39 full-time jobs and create six new ones, though Hamilton Economic Development Manager Jody Gunderson said he “fully anticipates they’ll continue to grow even beyond the jobs they are promising.”
The 39 jobs equates to a $3.8 million-plus annual payroll and the new jobs will add an estimated $315,000 to the company’s payroll.
“They’ve done so well as a business in their growth,” Gunderson said, adding that needing to build their own building “is a good problem to have.”
Gunderson said the company’s need for a new building is because its current location in the Lindenwald neighborhood is owned by Kaivac, which he said is growing and expanding.
Coolants Plus CEO Darrin Ward said in a company statement earlier this year that the company’s physical growth includes purchasing a blending facility in Allentown, Pennsylvania and constructing a state-of-the-art warehouse on Symmes Road. He said the growth “has been nothing short of remarkable.”
“This growth of brick and mortar shows the commitment we have to the next 25 years,” he said, adding the growth will focus on building the Starfire Premium Lubricants brand. Other Coolants Plus brands include Blue Panther, Diesel Monster and Liquid Moon.
Coolants Plus has partnerships with company brands like Shell, Pennzoil, QuakerState, Marathon, Valvoline and Castrol.
The construction project would accommodate future physical growth of the building, but the current project and future construction “broaches the need for careful review and consideration” as the property is adjacent to a Butler County Metro Park.
Planning Commission recommended approval of the project at its Oct. 17 meeting with several conditions and variances. Conditions include, among other things, requirements for future construction, landscaping, and signage. Variances included, among other things, screening for refuse storage areas, a waiver for sidewalks, and allowing storage of chemicals or petroleum products on greenfield land.
“This new construction is going to allow them for future growth and remain in Hamilton as one of our employers,” said Hamilton Planning Director Lauren Nelson.
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