Oji Intertech, Inc. Adding Equipment
Oji Intertech, Inc. granted 10-year abatement
Posted: Thursday, May 7, 2015 3:07 pm
by Mackenzi Klemann, email@example.com
Tax abatements were on the agenda at North Manchesters monthly Town Council meeting on Wednesday.
Oji Intertech, Inc.'s North Manchester plant was approved an abatement extending over 10 years for the plant's capital investment in new automotive manufacturing materials.
The Council heard from Oji President Rick Sereno that night regarding the plant's plans to launch a new product in conjunction with Chrysler in 2016.
The reason for abatement, according to Sereno, is for the plant's purchase of a new oven and two-headed water jet to be used in the production of molding air caps for the new Chrysler Town and Country Minivan set to launch next February.
Oji also plans to reconfigure a cell in the plant currently used to make automotive headliners into a cell that can produce these air caps. The cost of these improvements is an estimated $819,515, Sereno said.
An assessment conducted by Economic Development Group of Wabash County (EDG) President and CEO Keith Gillenwater found that Oji was eligible for a 10-year abatement, an assessment based on criteria evaluating the plant's employment numbers, salaries and other benefits the business is said to bring to the area.
Oji currently employs 92 people in North Manchester with starting pay at $11 an hour in the automobile manufacturing division, and $12 an hour in the industrial packaging division.
"Oji's been a good investment for us over the years," Council Chairman Chris Garber said as the Council unanimously approved the abatement request.
Oji, which manufactures automotive and industrial packaging materials, moved to North Manchester in 1998. According to Sereno, the tax climate and employment prospects have made North Manchester a favorable location for the plant.'