By Jennifer Edwards
The Cincinnati Enquirer
MONROE - One of this financially struggling city's biggest employers wants tax breaks as it undertakes a $6.9 million expansion next year.
Dayton Technologies LLC on North Garver Road plans an expansion that starts with 45 new employees and $1.83 million in improvements to one of its two buildings here.
The company also will invest $5.1 million in machinery and equipment over the life of the project, which is expected to wrap up in 2006.
Dayton Technologies manufactures vinyl window components. The expansion is for a new product line manufacturing composite materials for decks.
Dayton Technologies employs about 360 workers, making it one of Monroe's top five employers.
The jobs will create more than $1.4 million in payroll, which equates to nearly $15,000 in annual income tax to the city, said Jay Stewart, director of development.
Monroe could use the extra money. Earlier this year, a $3.5 million deficit was discovered in the 2002 budget.
Monroe city staff members and a local tax abatement negotiating committee will recommend approval of the deal at today's council meeting.
They are recommending council give the company a 100 percent real property tax abatement for seven years - about a $255,000 tax break.
It's also suggested the company receive a 50 percent abatement on personal property taxes for 10 years, a total $237,000 tax break.
Butler County commissioners will vote on the personal property portion of the deal Thursday.
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E-mail jedwards@enquirer.com
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