The $33 million Spectrum Brands distribution facility planned by the Airport is expected to be a “multiplier” for business growth in the region.
The announcement that the company is building a 570,000-square-foot facility off Concorde Drive brought local officials celebrating as a project in the works for months looked ready to proceed this week. The company’s commitment to Dayton is still pending incentives from local governments and JobsOhio, but developer NorthPoint Development began the permitting process last week to turn dirt.
A key to deciding to awarding those incentives, though, is the company is expected to have an impact for more local businesses, said Erik Collins, director of community and economic development for Montgomery County.
“The jobs created there will be a good mix of manufacturing, R&D and distribution,” Collins said.
In deciding to grant the company $350,000 in county economic development money, Montgomery County determined the company’s payoff in the county would go above the 350 jobs it has pledged to create at the facility.
County predictions show it could create as many as 462 jobs — including those that Spectrum Brands itself adds at the Dayton facility, as well as indirect jobs created for companies within its supply chain, and “induced” jobs that could come for service and other kinds of businesses that see a boost thanks to the new jobs. Those include everything from local restaurants to dry cleaners.
While Spectrum Brands plans a payroll of $12.8 million, the county thinks the “multiplier” of its presence will bring $17.5 million in payroll to the Miami Valley.
“This is a big asset for us, because it’s a signal to other companies to take a look at this region,” Collins said. “Not just Montgomery County, but the whole region.”
The county’s incentives are just one piece of the puzzle, though. Dayton will grant $150,000 for the project and also moved to designate land near the airport as a Community Reinvestment Area, allowing for tax incentives for property owners who develop the land. Montgomery County Transportation Improvement District sought $660,000 from the state controlling board to support widening Concorde Drive for the new center, but Spectrum must pay for most of the project itself.