$10 Million Expansion
GKN Sinter Metals of Gallipolis, OH recently completed a $10 million expansion of its production facility. The project expansion included the installation of a new 750-metric-ton, powder-compaction press along with other capital equipment to launch production of differential-gear components developed at the plant. The project is expected to add 50 full-time jobs and generate up to $20 million in additional sales for the company over the next two to three years.
The 175,000-square-foot facility currently has more than 160 employees and produces gears, clutch pressure plates and torque-converter components for a variety of customers, including Chrysler, General Motors, EXEDY, LuK USA and Allison Transmission.
To finance the expansion, GKN received tax credits and development grants valued at nearly $800,000 from various state and local agencies. The State of Ohio awarded GKN a Job Creation Tax Credit and an Economic Development Grant with a combined worth of $380,000. Additionally, the Southern Ohio Agricultural and Community Development Foundation (SOACDF) also provided the company with a $350,000 development grant. Local incentives included a City of Gallipolis Job Creation Tax Credit and a Gallia County Community Improvement Corporation (CIC) Economic Development Grant with a total value of $60,000.
