After attending Tuesday’s city council meeting, Crane said the agreement “cements” the company’s future in Monroe and may lead to another expansion within five years.
When Monroe Mayor Keith Funk was relayed what Crane said outside council chambers, he responded: “You can’t ask for anything better than that.”
Funk said it’s great to see new companies open in Monroe, but it “means even more when companies that are here want to stay here. We are happy for their growth. It’s a success story.”
Crane is committing to a 12,000 square foot expansion to its 40,000 square foot facility on Wright Drive. The family-owned company will add 20 full-time employees with more than $1 million in payroll. It also will retain its 66 full-time employees with more than $5 million in total payroll, according to city documents.
The company is investing more than $1.6 million, mostly building costs, and accepting a $100,000 JobsOhio Economic Development Grant.
The company will receive a 10-year 50% real property tax abatement that is estimated to equal $100,000, according to city documents.
Controversial ordinance tabled
An ordinance that has drawn the ire from several Monroe residents at council meetings was tabled due to a scheduling conflict with the developer, Funk said.
The ordinance, if approved at the Sept. 9 meeting, would rezone real property containing approximately 62 acres at North Main Street and Todhunter Road from Rural Residential to General Residential Zoning.
Residents have expressed concerns about the development creating crowded schools and additional traffic.
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