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Extrudex gets tax break for expansion
YOUNGSTOWN
Mahoning County commissioners have approved a 60 percent, 10-year real estate tax abatement for an expansion by Extrudex Aluminum Inc., 12051 Mahoning Ave., North Jackson.
The $14 million, 80,000-square-foot expansion, on which work is expected to begin next month and be completed by May 2012, will create about 25 jobs in three years, according to the Youngstown-Warren Regional Chamber.
Based in Woodbridge, Ontario, Canada, the company provides custom aluminum extrusions for industrial and residential architecture, electrical, transportation, marine and consumer goods applications.
Thomas J. Presby, the chamber’s business development manager, said the county, Jackson Township and the Jackson-Milton schools will forgo a combined total of just over $300,000 in tax revenue over the life of the abatement.
Todd Perren, controller for Extrudex, said this will be the company’s fourth expansion since it opened its North Jackson facility in 1998 in Youngstown Commerce Park.
The North Jackson plant now occupies 162,000 square feet and employs 110 workers. It now has two presses and the expansion would add a third, Perren said Thursday.
The building expansion will cost about $2.5 million, and the remainder of the investment will be in the new press and other equipment, Perren said.
“This is the only U.S. operation for our privately-owned Canadian owner. He could have invested his money elsewhere, but he decided to invest money here in North Jackson,” Perren said.
“The Mahoning Valley actually is the third largest industry cluster for aluminum extruders outside of Los Angeles and Chicago,” Presby told the commissioners.