LORDSTOWN - It likely will be more than a month until an Ontario-based company decides if it will open a new plant in Lordstown, but until then, village officials are doing everything they can to help sway the decision their way.
Matalco Inc., an aluminum extrusion manufacturer with U.S. and Canadian operations, is considering the purchase of more than 30 acres along state Route 45 near the Ohio Commerce Center here. The company, which already operates a plant in Canton, also is considering sites in Michigan, Indiana and Pennsylvania, Robert Roscetti, Matalco's director of corporate development, said Thursday.
"We will be making a final decision in the coming months," Roscetti said. "The site in Lordstown offered excellent access to both rail and highway, and it's in close proximity to some of our larger aluminum extrusion customers."
In an attempt to persuade the company to make Lordstown its next home, Village Council voted Monday to grant the company a 75 percent, 10-year property tax abatement in exchange for a $70 million investment and 60 new hires.
"We have our fingers crossed," said Dave Harrison, Lordstown's director of economic development along with planning and zoning administrator. "We knew we needed to pass this to show them we are in earnest."
Harrison said even with the abatement, village schools still would see a significant increase in funding because the village would share with the school district 50 percent of the income tax generated from hires at the new facility.
Matalco in August announced plans for a U.S. expansion. The company produces extrusion grade aluminum billets primarily from scrap aluminum. Its two existing locations serve the U.S. Midwest and Northeast along with Canadian markets.