Thursday, June 08, 2000
Mitsubishi to announce $27M expansion in Mason
By John J. Byczkowski
The Cincinnati Enquirer
Mitsubishi Electric will officially announce a $27 million expansion in Mason today. .
Ohio Gov. Bob Taft will be at the Mason plant at a noontime barbecue for the announcement. The governor's office said the expansion is a result of his 10-day trade mission to Japan earlier this year, during which he visited with Mitsubishi's chief executive officer.
The Mitsubishi plant employs 450 making electrical components for cars; the expansion will add up to 63 full-time jobs. This is the largest of three investments in Ohio by Japanese companies announced since the trade mission.
“It's tremendous for Mason,” said Peter Beck, a Mason councilman and chairman of council's economic development committee. “Mason is the U.S. headquarters for Mitsubishi.” He said the jobs, being moved from a plant in Indiana, could have gone instead to Maysville, Ky.
“They thought (Mason) was a better site for them,” Mr. Beck said.
Ken Fightmaster, a foreign trade specialist with the Greater Cincinnati Chamber of Commerce, said discussions continue with other Japanese companies regarding expansions locally. “There's nothing close to being an announcement that I'm aware of,” he said.
To support the expansion, Mitsubishi has already won tax incentives worth up to $2.7 million over 10 years from Mason. The state also has granted a seven-year, 55 percent payroll tax credit. The value of the credit depends on the number of new jobs and their salaries.
Updated Microsoft breakup coverage from Associated Press
Delta, American discussing merger?
European airlines join merger mania
Alliance Laundry shrinking work force
New P&G facility praised
Index puts Convergys in spotlight
Mitsubishi to announce $27M expansion in Mason
Tool awards boost grads
What's the Buzz?
Tristate Business Summary
Commercial Real Estate
Tainted firm solicits money
