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Tuesday, October 28, 2003

Monroe firm wants deal


Tax abatement likely to be approved

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.

---

E-mail jedwards@enquirer.com




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