PORT CLINTON, Ohio (Oct. 23) — Fenner Dunlop North America Inc. will invest about $38 million to expand its Port Clinton plant by about 80,000 square feet and add new equipment.
The new machinery includes a steel cord belting line, a ply belt line and a large calender. The company will likely add 75 new jobs upon completion of the expansion, which will boost the facility´s size to almost 300,000 square feet.
Charlotte, N.C.-based Fenner Dunlop will receive about $9.1 million in financing and incentives for the project from the Ohio Department of Development and more than $1.6 million from Ottawa County, where the factory is located.
The entire project is contingent on final approval for financing and incentives by the Ohio Tax Credit Authority, the state controlling board and Fenner Dunlop´s board of directors, according to the company.
"This is a tremendous investment for our company," Robert A. Giebel, president of Fenner Dunlop North America, said at the Port Clinton plant when the announcement was made. "We are excited about the opportunities such an investment brings Fenner Dunlop and our decision to locate the investment in Ohio will solidify our competitive position worldwide."