State approves six year tax credit for project today
TIFFIN, OHIO – December 3, 2014 – Following the approval of a state
Job Creation Tax Credit by the Ohio Tax Credit Authority in Columbus this morning,
Irving Equipment announced its decision to move forward with a major expansion at a vacant 40,000 square foot facility located at 1785 County Road 1, just down the road from its existing facility at the Airport Industrial Park. Tiffin won out over Texas, where customers were asking for the company to move, and Tennessee, where economic development officials were aggressively recruiting the company, for the project.
Growth and increased demand for products by the largest privately-owned manufacturer and dealer of concrete pumps is motivating the $1.1 million investment. Irving Equipment will be spending more than $800,000 on building improvements and at least another $300,000 on machinery and equipment. The company will almost double its workforce, adding another 15 to the existing 22 employees.
President & Owner Joe Irving was appreciative of the local and state support for the project, saying “We have strong growth due to great products, great service, and a great team. What helped seal the deal for Ohio was the assistance we are receiving from
JobsOhio,
AEP, the
Ohio Statewide Development Corporation, and
Ohio Means Jobs - Seneca County.”
Regional Growth Partnership President & CEO Dean Monske was pleased with the announcement. “Tiffin and Seneca County have been on a roll this year, proving to be a strong area of growth for northwest Ohio. I’m pleased we were able to help put together a state incentive to ensure this project moved forward in our region.”
In addition to the six-year, 35 percent Job Creation Tax Credit provided by the state through JobsOhio and the Regional Growth Partnership, Irving Equipment is receiving a $350,000
Regional 166 loan, a $16,000 American Electric Power grant, and workforce development assistance through Ohio Means Jobs - Seneca County.
About Irving Equipment
Irving Equipment is the largest privately-owned concrete pump assembler and dealer in the US, with sales in the neighborhood of $15 million annually and selling the largest concrete pump in North America last year. The company started in 2003 and invested $1 million in 2007 to upgrade their current facility to accommodate growth. They assemble, sell, and service CIFA and KCP concrete pumps as well as PM cranes and Loop Belt conveyors. Learn more at
www.irvingequipment.net.
About SIEDC
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio. In 2012, the community was ranked in the top 5 percent nationally for economic development, and last year, it was recognized as one of the top ten communities out of 600 micropolitans in the US. Learn more about the great things going on at the company’s blog at
www.senecasuccess.com.
About Regional Growth Partnership
Based in Toledo, Ohio, the Regional Growth Partnership (RGP) is private, nonprofit corporation designed to drive job creation and new capital investment in northwest Ohio through business attraction, retention and expansion efforts. The RGP also serves as the JobsOhio Northwest network partner, serving as the JobsOhio point of contact and customer service for state incentives for an 17-county region. Learn more at
www.rgp.org.
[gallery type="rectangular" ids="https://tiffinseneca.org/wp-content/uploads/2014/12/ohio-tax-credit-authority-irving-crop.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2013_07_04-irving-flag-july-4.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-pump-truck-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-pump-truck-night-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-65m-from-side-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-cr-pump-truck-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-b-devries-from-company1.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-b-devries-from-company.jpg|"]
State approves six year tax credit for project today
TIFFIN, OHIO – December 3, 2014 – Following the approval of a state Job Creation Tax Credit by the Ohio Tax Credit Authority in Columbus this morning, Irving Equipment announced its decision to move forward with a major expansion at a vacant 40,000 square foot facility located at 1785 County Road 1, just down the road from its existing facility at the Airport Industrial Park. Tiffin won out over Texas, where customers were asking for the company to move, and Tennessee, where economic development officials were aggressively recruiting the company, for the project.
Growth and increased demand for products by the largest privately-owned manufacturer and dealer of concrete pumps is motivating the $1.1 million investment. Irving Equipment will be spending more than $800,000 on building improvements and at least another $300,000 on machinery and equipment. The company will almost double its workforce, adding another 15 to the existing 22 employees.
President & Owner Joe Irving was appreciative of the local and state support for the project, saying “We have strong growth due to great products, great service, and a great team. What helped seal the deal for Ohio was the assistance we are receiving from JobsOhio, AEP, the Ohio Statewide Development Corporation, and Ohio Means Jobs - Seneca County.”
Regional Growth Partnership President & CEO Dean Monske was pleased with the announcement. “Tiffin and Seneca County have been on a roll this year, proving to be a strong area of growth for northwest Ohio. I’m pleased we were able to help put together a state incentive to ensure this project moved forward in our region.”
In addition to the six-year, 35 percent Job Creation Tax Credit provided by the state through JobsOhio and the Regional Growth Partnership, Irving Equipment is receiving a $350,000 Regional 166 loan, a $16,000 American Electric Power grant, and workforce development assistance through Ohio Means Jobs - Seneca County.
About Irving Equipment
Irving Equipment is the largest privately-owned concrete pump assembler and dealer in the US, with sales in the neighborhood of $15 million annually and selling the largest concrete pump in North America last year. The company started in 2003 and invested $1 million in 2007 to upgrade their current facility to accommodate growth. They assemble, sell, and service CIFA and KCP concrete pumps as well as PM cranes and Loop Belt conveyors. Learn more at www.irvingequipment.net.
About SIEDC
Started in 1983, the Seneca Industrial and Economic Development Corp. (SIEDC) is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio. In 2012, the community was ranked in the top 5 percent nationally for economic development, and last year, it was recognized as one of the top ten communities out of 600 micropolitans in the US. Learn more about the great things going on at the company’s blog at www.senecasuccess.com.
About Regional Growth Partnership
Based in Toledo, Ohio, the Regional Growth Partnership (RGP) is private, nonprofit corporation designed to drive job creation and new capital investment in northwest Ohio through business attraction, retention and expansion efforts. The RGP also serves as the JobsOhio Northwest network partner, serving as the JobsOhio point of contact and customer service for state incentives for an 17-county region. Learn more at www.rgp.org.
[gallery type="rectangular" ids="https://tiffinseneca.org/wp-content/uploads/2014/12/ohio-tax-credit-authority-irving-crop.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2013_07_04-irving-flag-july-4.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-pump-truck-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-pump-truck-night-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-65m-from-side-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-cr-pump-truck-from-company.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-b-devries-from-company1.jpg|,https://tiffinseneca.org/wp-content/uploads/2014/12/2014_02_10-b-devries-from-company.jpg|"]
