Mich. Company Moving to Mineral Ridge Plant Site
MINERAL RIDGE, Ohio – The State Controlling Board has approved a $412,500 state loan to Jackson International Inc. to support its purchase of the manufacturing plant, machinery and equipment at the former Alloys Unlimited & Processing plant here.
Jackson International will move its operations from Constantine, Mich., to 3714 Union St. over the next two years, where it will create 10 new jobs that are expected to pay $15 per hour, plus benefits, according to a news release from state Rep. Sean O’Brien, D-63 Bazetta.
The 88,000-square-foot industrial property was listed for sale at $880,000. It was purchased by Ampco-Pittsburgh Corp. in July 2015 along with the Alloys Unlimited & Processing plant at 3760 Oakwood Ave. in Austintown, which remains in operation.
Jackson International, formed in 1991, manufactures a variety of uncoupling levers and other devices for the railcar and the railroad industry. The company said it is moving to Ohio to be better positioned to serve its expanding client base, which spans from Chicago all the way to New York and the eastern seaboard. Its largest customer, according to the company’s website, is Gunderson Rail Services, formerly Youngstown Steel Door.
Funds for the $660,000 relocation project are from the state’s Regional 166 Direct Loan Program. The loan will have a 3% interest rate and term of 15 years. The state will have a first lien position on the commercial real estate and require the personal guarantees of principals Robert G. Jackson and John M. Jackson.
“The Mahoning Valley workers have proven time and again that they are among the most industrious in the nation, and that reputation has helped secure new local jobs for Trumbull County,” O’Brien said in announcing the state loan. “I am pleased that we were able to work proactively to attract a new business to the area that will help grow our local economy.”
Pictured: The former Alloys Unlimited & Processing plant in Mineral Ridge, which Michigan-based Jackson International is purchasing.
Copyright 2024 The Business Journal, Youngstown, Ohio.
