US Yachiyo Inc., a tier one supplier of automotive gas tanks for Honda in Marysville, will invest over $10 million to add over 40,000 square feet to their existing facility in Marion. The expansion will add over 30 jobs to the existing workforce of about 175. The expansion will increase the local factory’s plastic fuel tank production by over 25%.
The company says it selected the Marion facility, located on Kellogg Parkway in the Dual Rail Industrial Park, over other options, citing its cost competitiveness along with the consistent quality of product that is produced at the facility as a determining factor.
“Our facility in Marion produces a great quality product at a very cost competitive price, we expect nothing less with our expanded production” said Ray Sanders, Vice President of US Yachiyo, in a media release. “We are appreciative of the support and partnership between the state of Ohio, the City and County of Marion, Marion CANDO and Columbus2020 to make this expansion possible.”
“The level of service and quality of our products are extremely important to our company and our customers,” said Masaaki Kato, President of Yachiyo Industry Co. Ltd. headquartered in Saitama, Japan. “Our Marion facility gives us the best opportunity to supply our customers with our highest quality products.”
Monday evening, Marion City Council unanimously approved a 50 percent, 10-year property tax abatement on the expansion.
Ken Lengieza, Marion City/County Regional Planning Director, told Council that the expansion would create 32 permanent full-time jobs and eight temporary full-time jobs within one year.
The Ohio Tax Credit Authority had already approved a 40 percent, six-year tax credit to U.S. Yachiyo for the creation of $1.4 million in additional payroll as part of the proposed project. That abatement requires the company to maintain their Marion operations for a minimum of nine years.
The company plans the expansion to be fully operational by the fall of 2012.
