New Jobs Coming to Town
A South Korean auto parts manufacturer, S&T Automotive America has announced that it will develop its first United States production company in Grove City. They will be moving into a vacant industrial building located at 3900 Gantz Road, near the intersection of Stringtown Rd. and Interstate 71.
This facility will produce shock absorbers. The agreement came with a stipulation that S&T move into the site as soon as is practicable and to be in operation within 12 months. S&T is predicted to bring 80 jobs to Grove City with an estimated total annual payroll of $2.2 million with a capital investment of $6.5 million.
The vacant, 175,000 square foot site, was originally built in 1991 for manufacturing and research by a pharmaceutical company. More recently it served as a distribution center for the now out of business book and music retailer Borders. In February, the Grove City Council universally passed a jobs development and incentive agreement as part of the effort to bring S&T Automotive America to town.
S&T also received a payroll tax sharing incentive that came as part of the agreement. During the first two years of operation, the agreement says the city will pay 75% of the company’s net payroll tax payments as well as paying 50% during years three through seven. Also, S&T till receive a ten-year, 100% property tax reduction for the current structures as well as a fifteen year, 100% reduction for any new structures that the company may build on the site, if the company’s capital investments increase the property’s market value.
The Council’s consent came with an understanding that some additional changes may be necessary to finalize the agreement. City Administrator Chuck Boso said that while the agreement has not yet been put in place, there might be some changes to the language, but the content of the agreement stays the same.