Lear Corporation has announced a $13 million equipment expansion at it’s plant in Huron, Ohio. The proposed project would involve a fixed asset investment of at least $13 million including $340,000 in new construction and $12.7 million in new and relocated machinery and equipment. The building addition involves adding 11,000 square feet to two ends of the current facility for additional storage, totaling 22,000 square feet.

Lear met with state, city and county officials asking if they would provide incentives if the company were to source new business to the Huron plant. The company could create up to 222 new jobs within three years. The Ohio Tax Credit Authority has approved a 60 percent, seven-year tax credit to Lear Corporation for the creation of 222 new full-time jobs and the retention of 778 existing jobs that would result from the company’s expansion of its Huron facility. As part of the tax credit agreement, the authority would require Lear to maintain operations at the project site for at least 14 years. The estimated credit is worth approximately $900,000.

Locally, the City of Huron will provide a Municipal Income Tax Credit of 25 percent of the municipal income tax paid by the 220 new employees. The City collects 1 percent in income tax, and plans to credit 1/4 of that 1 percent to Lear. The City will also grant Lear a 50 percent credit against its quarterly water bill. Lear’s water bill averages $6,400 per quarter, which means the credit will save them about $12, 800 per year. The length of the credit will be seven years, the same as the State’s job creation tax credit. The City also agreed to waive the building permit fees for the 22,000 square foot addition.

Through a collaborative effort of the City of Huron, GEM, ODOD and Lear, we were able to bring this project to fruition