A Springfield manufacturing company plans to add 40 new jobs over the next three years. The company had planned to ship the new jobs to Mexico but will remain in Clark County after receiving a tax break.
The Ohio Tax Credit Authority recently approved a seven-year, 45 percent commercial tax break for Pentaflex Inc.
CEO David Arndt explained that his stamping and tooling company, which has been in business since 1972, has grown since the recession in 2009, and he's glad to be staying in Springfield.
"We had to do our due diligence on what's best for the company and the tax breaks were a significant factor in helping us make the decision to add to our facility here in Springfield," he said.
Arndt indicated that Pentaflex will now move forward with plans on a $4 million expansion to its Gateway Blvd location, which employs more than 100 people. A new press and significant warehouse space will be part of the growth.
With the 40 newly-created jobs, Pentaflex will have a payroll of more than $5 million over the next three years.