May 13: Moraine is taking steps to attract and lock up a snack maker that needs to create 250 jobs this year at the former General Motors paint shop.
The automaker is considering GM’s former site on Springboro Pike for the $106 million project. Dubbed “Project Crispy” in Moraine’s application to the County Commission for ED/GE funding, the unnamed company describes itself as one of the “leading brands of branded chips. “, tortilla chips, full-grain chips, cabbage, curls, and other snacks. “
Moraine’s city council is expected to vote May 23 on a solution that supports a loan forgiveness in which the company would guarantee an annual payment promise and a task count for five years.
“The request would be for $250,000 and every year, as long as they meet their commitments, 20% of the forgiveness loan would be forgiven,” Moraine City Manager Mike Davis told the Moraine City Council at a total committee meeting Thursday night.
“If at any point they move or if they don’t respect their commitments . . . We’d end up talking to them, trying to give them time to see what’s going on. Maybe it’s recruitment disruptions or something. “
If the company were to leave, there would be a provision requiring it to pay the remaining percentage that has been forgiven, he said.
The rebate loan, if approved, would be used with the initial investment in the site, and receiving the aid requires a five-year commitment, Davis said.
The potential revenue source tax collection once the site is completely inconsistent with the national is about $300,000 per year.
“If we were lucky enough to get it, we would diversify our economy a little bit because yes, it’s in manufacturing, but it’s in a completely different industry that I think would be smart for the city,” he told the city council. .
The Ohio-based company aims to move an existing production facility out of state to Ohio. The allocation would create more than 162 jobs in 2025, with 44 jobs expected in 2026 and 44 in 2027, Davis said.
Moraine, in a recently approved county ED/GE grant application, said that by creating those positions, the company would create a $12. 56 million payroll, based on an average wage of $25. 15 per hour, or about $50,240 per year.
Roughly $14 million to $15 million of the project’s $106 million would go toward the building, Davis said.
Davis said Thursday that the fact that the council agreed to put the measure on the May 23 timeline allowed him to “remember the attitude and the percentage that is out there. “