“As the global market changes, we’re growing along with it,’’ said Kim Hall, Pacific’s assistant general manager for purchasing. “There’s so much new technology. (Our expansion) is to grow within the market using the new technology.”
Pacific is a major supplier of parts to Toyota, Subaru, and Honda, along with others. It manufactures automotive parts, including a variety of metal and plastic components.
It’s two largest, stamping, buildings are on Seward Road; a third, where plastics are manufactured, is located at the corner of Commerce Center Drive and Seward Road. The fourth building is on Seward at Port Union Road.
When completed, Pacific will have about 950,000 square feet of space in five buildings spread over 60 acres on its Seward Road campus.
“Thank you so much for being a part of our city and for being such a valuable business,’’ said Councilman Tim Meyers.
It is Fairfield’s second largest industrial business, behind Koch Foods, and fifth largest employer in the city.
“This project could have occurred at Pacific Manufacturing’s campus in Tennessee or another location,’’ said Nathaniel Kaelin, Fairfield’s economic development manager.
“We’re very pleased that the company chose to expand here in Fairfield.”
The cost of the project is close to $70 million, which includes the purchase price of the building, construction of the addition, and purchase of machinery and equipment.
The project retains 860 jobs and will create at least another 96 jobs with an estimated payroll of $4.4 million within three years, of completion of construct, according to papers field with the city. The company expects the payroll to increase to $44.7 million with the additional employees.
As an incentive, the city approved a Community Reinvestment Area agreement that includes a 10-year, 100 percent property tax abatement on the addition to the building it purchased in February.
Included in the agreement is a requirement to compensate the Fairfield City School District and Butler Tech for tax dollars it would have received without the abatement.
“We really appreciate your support for this new project,’’ said Ken Yamada, Pacific’s president.
The company is expected to receive additional tax breaks from Ohio in December when the Ohio Tax Credit Authority’s board meets in December.
The expansion of the fifth building is expected to be completed by the end of next year.
“(This project) shows the unbelievable growth our city and this company have experienced,” said Councilman Matt Davidson. “It shows the growth of the economy. It gives us a sense of joy and pride.”
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