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State Awards Magnode Tax Credit For Expansion

A Trenton manufacturer has been awarded a state tax credit designed to keep the company in Butler County as it decides what to do about its current facility. The Ohio Tax Credit Authority approved a 1.811%, 9 year tax credit, which will help the company create 171 new full-time jobs at a site to be determined in Trenton. The project would add $10.6 million in new payroll on top of the $16 million in existing payroll. Kevin Donnelly of REDI Cincinnati says Magnode needs a new location in order to expand, and has been considering sites in Trenton, Indiana, and Michigan. 

"The current Ohio location requires physical expansion, and the current site is not sufficient. The company has identified other real estate in Trenton" said Donnelly. "With operations currently located in Michigan, Ohio, and Alabama, they're looking to select the most cost efficient location with the broadest talent pool."

 

He says Magnode, a family owned aluminum extruding business for many years, was purchased by the Shape Corporation in 2018.

 

(A previous version of this story suggested the current location may be closing. No decision on the future of the site has been announced.)

 

(Photo: Google Earth)

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