TTM Plans to Expand in North Jackson after Tax Credit OK’d
NORTH JACKSON, Ohio – TTM Technologies plans to move forward with an expansion of its plant here that will result in 250 new and retained jobs and nearly $2.3 million in new annual payroll.
Team NEO, which worked with TTM, announced the company’s decision following a meeting Monday morning of the Ohio Tax Credit Authority, which approved a six-year, 1.139% tax credit for the company, which manufactures printed circuit boards at the North Jackson plant. TTM will claim the tax credit on Ohio employee payroll generated at the project location in excess of the company’s baseline payroll at the North Jackson plant.
Based in Santa Ana, California, TTM expects to add 50 full-time equivalent positions to the existing 200 that work at the plant now, generating $2,296,268 in new annual payroll there by the end of 2026, according to Ohio Department of Development documents. Existing annual payroll at the plant is nearly $9.7 million.
TTM Technologies’ investment will help produce essential components for many industries that have a large presence in the region, including aerospace, automotive, medical devices and industrial controls and automation, according to a Team NEO news release.
“TTM Technologies is pleased to bring this expansion of capability and opportunity for workforce growth to North Jackson, Ohio. The engagement by Team NEO, the Ohio Department of Development and JobsOhio to understand our extensive workforce training requirements was invaluable in our decision to grow this facility,” Phil Titterton, COO of TTM Technologies, said in the release. “This successful process has allowed all involved to develop a better understanding of the importance and criticality of U.S.-made printed circuit boards.”
As part of the tax credit agreement, TTM is committed to maintain operations at the site for at least nine years, according to the Ohio Department of Development. The North Jackson plant was competing with locations in Colorado, Connecticut and Virginia for the project.
“Northeast Ohio continues to see investment across the semiconductor and microelectronics supply chain,” said Bill Koehler, CEO of Team NEO. “TTM Technologies’ commitment and growth validates the strength of the microelectronics ecosystems here. Along with our partners at ODOD and JobsOhio, we are grateful to see TTM Technologies stay and grow in Mahoning County.”
Copyright 2024 The Business Journal, Youngstown, Ohio.
