XENIA — Greene County Commissioners approved a tax abatement for a planned $2.3 million expansion project at a Jamestown manufacturing company Thursday. Commissioners approved the tax break through an Ohio Enterprise Zone Agreement with Twist Inc., Greene County and the village of Jamestown, related to improvements planned for the company’s facilities in Jamestown.
Plans call for two expansions: a 5,000-square-foot addition to Twist’s Plant 1 at 5100 Waynesville Jamestown Road and a 15,000-square-foot addition to the company’s Plant 5 located at 47 S. Limestone St., one for additional office space and one for additional production space. According to county documents, the project would increase the value of the Jamestown property by $1.5 million. The company also plans to add about 20 new employees in connection with the expansion, adding approximately $500,000 to the company’s current annual payroll of $4 million.
“The tax incentives to our corporation will spur additional capital investment in two of our current facilities to add office space and manufacturing areas needed to expand our operations and allow for job retention and job creation in this area,” Twist CEO Julia Abels wrote in the company’s application for the abatement.
The 53-percent tax abatement will last for 10 years on the value of the improvements resulting from the project. According to county documents, the expansion would generate an estimated $33,000 in new property taxes annually, about half of which would be abated for the 10-year term.
“We’re ready to start immediately,” Abels said. “We’re hoping to have the actual building structure done as soon as possible.”
Abels estimated construction would be completed within six months.
The abatement comes after Jamestown’s village council signed off on the tax break Monday.
Twist manufactures precision metal products. The company has several plants in Jamestown and Xenia and employs 275 individuals.