TRUMBULL COUNTY Commission OKs tax deal for Faurecia

BAZETTA -- Trumbull County commissioners have approved a tax abatement for Faurecia Exhaust Systems Inc., the first of several companies expected to open shop to support a new line of cars being produced at GM's Lordstown Assembly Plant.
Under the agreement approved by commissioners Wednesday, the county will forgive 55 percent of the personal property taxes that the company otherwise would have paid on $1.7 million new investment over 10 years.
Lordstown Village Council approved the tax abatement Monday. Most of the taxes money would have gone to Lordstown schools.
The company, a Toledo-based subsidiary of Europe's third-largest automobile equipment supplier, plans to lease a 4,300-square-foot building on Bailey Road and employ between 15 and 20 people.
In other business Wednesday, the commissioners revoked tax breaks for five companies that are not in compliance with their agreements with the county.
In each case, the tax abatement was taken away because the company is in bankruptcy, was sold or never completed the project for which the tax break was given.
The companies are Lexington Connector Seals, Vienna; Oakley Industries, Lordstown; Howell Industries, Brookfield; Hunter Morgan, Niles; and Ajax Magnethermic, Howland.