Created on Wednesday, 10 April 2013 Written by JOEL E. MAST
For the second time this year, the Bellefontaine City Council will consider an enterprise zone agreement for a local company looking to expand.
ISS America Inc., which began operating at 301 Carter Ave. in the past year, plans to spend more than $2 million to renovate and expand its facility.
Employment will grow from six currently to 35, adding $1.05 million to its current payroll of about $180,000.
ISS will pay more than $14,000 in income tax withholding each year on the payroll.
In exchange, the auto parts maker is asking for a 10-year, 75-percent abatement of its property taxes. If granted, the abatement will save ISS $150,000 during the life of the agreement.
ISS plans to spend $1 million to add 20,000 square feet to the existing 8,000-square-foot facility.
Another $1 million will be spent on machinery and equipment; $50,000 will be spent on remodeling; and $30,000 on fixtures and furniture.
ISS will have an inventory of about $10 million.
The project should start in May so council members will act on the request at the next meeting.
In February, the council approved an amended agreement for a $12 million expansion at AcuSport Corp., 1 Hunter Place, that will add 80 jobs and $4 million in payroll to its existing 214 employees and $10 million payroll.
ISS purchased the Carter Avenue property in September. It started up producing some engine component parts for Honda.
Iino Seisyakusho is the parent company of ISS and it was established nearly a half century ago. The company makes more than 160 highly precise engine components for a number of automobile, motorcycle and general-purpose product manufacturers.
The company has three plants in Japan.