ART Metals Group, 3795 Symmes Road, manufactures and supplies metal stamping and assemblies, thrust bearings, and coining services. Bailey said its breakdown is 40% automotive, 40% industrial, 20% highway trucks. About 20 percent of Arts Metals Group’s overall business is export, Bailey said.
As part of the deal, a second agreement was signed by ART Metals Group to compensate the Fairfield City School District for $10,195 per year and Butler Tech for $155per year over the seven-year CRA. These payments make up for any school revenue that would have been lost due to the property tax abatement.
Bailey said they are “very excited about the project” that will allow the company to take on 10 new full-time employees, and that hiring process is starting now. The new total payroll is expected to be just under $2.7 million.
The 30,000-square-foot expansion is estimated to cost about $2 million, and the company plans to invest $3.1 million in new equipment, according to the CRA.
Bailey said that new equipment should arrive this fall.