Deal approved for former BAX facility in Swanton Township


Staff Report



A deal was approved Thursday by the Toledo-Lucas County Port Authority to bring over 200 jobs to the former BAX Global facility at Toledo Express Airport in Swanton Township.

Tronair has committed to bring 110 new jobs in along with the 104 existing jobs at their current facility in Holland. The 100 full-time positions are expected to generate $7.2 million in new annual payroll.

Tronair is a manufacturer of ground support equipment for the aviation industry that is expanding operations and needed a larger facility.

The deal approved includes a lease of the facility for 10 years, beginning July 1, with two 10-year extension options. Tronair will lease 224,820 square feet of the facility on Air Cargo Parkway for the first two years and expand to the entire 300,120 square feet for years three through ten of the lease.

Tronair also plans to make significant investments at the facility estimated at $3.5 million along with $6 million in equipment, according to the Port Authority.

Rent of the building will start at $2.30 per square feet and increase 2.5 percent each year of the initial term and applicable extension periods.

On Monday, Governor John Kasich announced the approval of assistance for the project. The Ohio Tax Credit Authority approved a 1.715 percent, eight-year Job Creation Tax Credit.

http://aimmedianetwork.com/wp-content/uploads/sites/23/2017/03/web1_Tronair-logo-5.jpg

Staff Report