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Matalco Inc. breaks gound for new facility
LORDSTOWN
It was a nice, sunny afternoon for the 100 or so people who attended the groundbreaking ceremony of Matalco Inc.’s new $100 million manufacturing facility here.
The Brampton, Ontario-based company’s planned 200,000-square-foot facility will make aluminum billets for the aluminum-extrusion industry at the Ohio Commerce Centre, 5120 Tod Ave. SW.
The project is expected to be completed by early 2016.
Matalco is a member of Giampaolo Group, an array of companies from various industries owned by Triple M Metal LP.
“We made significant progress,” Joe Caruso, president of Giampaolo Group, said at Wednesday’s event. “We’re proud to be a part of this community.”
The plant is expected to employ an estimated 60 to 80 full-time personnel, said Robert Roscetti, director of corporate development for Giampaolo Group.
That fact didn’t go unnoticed by one of the Ohio’s top officials.
Lt. Gov. Mary Taylor said, “It’s not only great news for Lordstown but for the rest of Northeast Ohio.”
Representatives for U.S. Sen. Sherrod Brown, D-Ohio, U.S. Sen. Rob Portman, R-Ohio, and U.S. Rep. Tim Ryan of Howland, D-13th, also were present.
David Mustein, a senior managing director at Jobs-Ohio, applauded how well the area has developed. “We’re excited for all these assets to come together,” he said.
JobsOhio is the private, nonprofit organization that promotes job creation and economic development for the state.
In December, the Ohio Job Creation Tax Credit Authority approved tax credits for Matalco Inc. The company was approved for a 50-percent, eight-year tax credit that would provide $450,000 in assistance from the state.
It received an economic- development grant from JobsOhio.
Additionally, Lordstown approved a 75-percent, 10-year property-tax abatement.
“We’re certainly happy to be in Lordstown,” Roscetti said.