A steel fabricating firm would move from Temperance into a building in East Toledo under an incentive plan reviewed yesterday by City Council.
Ironhead Fabricating & Contracting Co. plans to lease a building from the Toledo-Lucas County Port Authority at 3518 St. Lawrence Drive.
The pending council legislation would give Ironhead a municipal job-creation tax credit worth $60,760 over five years. That's a 40 percent discount from its projected payroll tax bill of $151,906.
In return, Ironhead would expand from 15 jobs to 50 jobs in three years, paying at least $14.55 an hour plus benefits equal to about $10 an hour, said Pat Fligor, economic development specialist for the city.
Ms. Fligor said Ironhead has done some steel work on the I-280 Maumee River Crossing and is bidding to take part in building a proposed coke plant, also on port authority property.
Council agreed to vote on the incentive package Jan. 3.
Council also agreed to consider a nine-year, cash-for-jobs grant to TTL Associates Inc., which is moving from 1810 North 12th St. to 1915 North 12th. The grant, under the city's downtown employment incentive program, would be $19,500 a year for nine years.
Under the agreement, TTL would retain 69 employees and add one, with an estimated annual payroll of $2.6 million in 2006. TTL does environmental assessment, brownfield management, and other services.