The company’s smart tools are used in the manufacturing of aerospace parts.
“Miamisburg was ideal for our new headquarters because of the physical location, allowing for ease of commute for our existing Dayton-centric work force, as well as its proximity to Cincinnati, particularly the northern suburbs, allowing us to expand our workforce south,” Spintech President Tom Margraf said.
The city’s existing infrastructure and amenities also made it an ideal candidate location, Margraf said.
Jennings said incentives from Miamisburg was one of the primary reasons behind Spintech Holdings’ move there. Miamisburg City Council last year voted to authorize entering into an agreement with the company to provide a 40% job creation tax credit for a five-year period. The tax credit is valued at about $105,000, officials said.
Other reasons for the move include availability of the 60,000-square-foot, build-to-suit building that still had 46,000 square feet available when Spintech negotiated a lease with Mark Fornes Reality, the company said.
Miamisburg also got the nod for the Spintech Holdings’ new headquarters because of the physical location, which Margraf said allows “for ease of commute for our existing Dayton-centric work force, as well as its proximity to Cincinnati, particularly the northern suburbs, allowing us to expand our workforce south.”
Spintech Holdings was formed in 2010 as a result of the commercialization of products created by Cornerstone Research Group, consists of two divisions, Smart Tooling and Hawthorn Composites, township officials said.
Spintech’s Hawthorn composites division uses high-tech composite materials and innovative manufacturing methods to create complex geometric parts at lower costs than traditional manufacturing. Most of Spintech’s work is focused on the aerospace industry.
The move comes one year since the launch of the company’s new composite parts manufacturing division, Hawthorn Composites, and enables further expansion of its two divisions.
Investment into leasehold improvement, the move, building infrastructure and new capital equipment exceeds $500,000 and Spintech plans on investing in additional capital equipment this year to meet its growing customer needs, Jennings said.
The new facility enables Spintech Holdings Inc. to “rapidly scale up production and logistics based on customer needs,” the company said. Since the move, Spintech Holdings has hired three new employees to add to the existing team of 19 employees and one contractor, with more hires expected this year.
Over the next three to five years, Spintech plans on doubling its workforce to 42 employees and $3.4 million in annual payroll, officials said.
About the Author
