Owned by Beontag, Technicote makes self-adhesives and smart tags with a commercial presence in more than 40 countries, Trotwood said in a release announcing the move.
The company is located today at 222 Mound Ave.
Technicote will move to the Gated Properties industrial park off Wolf Creek Pike. The business will occupy a speculative building — built without an end-user immediately identified, the city said.
The Trotwood Community Improvement Corp. and California-based developer Gated Properties Global announced plans for the park near an existing 62-acre commercial site in the spring of 2021.
The site is near the Ohio 49 connector, the interchange of interstates 70 and 75, and about 10 miles from Dayton International Airport.
“The city of Trotwood is beyond proud to welcome Technicote and Beontag to the community. When working with Gated Properties Global to develop this speculative building, this was the very outcome we envisioned when supporting that investment,” Trotwood City Manager Quincy E. Pope, Sr. said.
The city of Trotwood is offering Technicote a tax abatement on the property and an additional employment benefit, the city said.
Chad Downing, executive director of the Trotwood Community Improvement Corp., said it’s difficult to give a precise value for the tax abatement as the auditor has not yet captured the new building’s value. The first year for the abatement is 2024, he said.
The employment benefit approved by Trotwood City Council Monday night goes to Technicote, Downing told the Dayton Daily News. The city calculates an annual grant based on the amount of income tax generated by its employees. The grant is funded with non-tax revenues and will be paid out annually over four years.
The amount for the first and second years (2025 and 2026) will be half of the income tax generated by employment there, he said. In 2027 and 2028, the benefit will be 25%.
“Based on their employment numbers, we expect that over the four-year-term Technicote will receive between $500,000 to 600,000,” Downing said.
He expects Technicote to be in the new building by early 2025.
“Technicote has been successful for years, having proudly served the North American market from Indiana, California and here in Ohio since 1980,” Frank Gavrilos, president of Technicote, said in the city’s release. “This move to our new home in Trotwood is one of the most exciting developments in our 40-plus years of history.”
“We look forward to welcoming Technicote and Beontag into the Trotwood family,” Mayor Mary McDonald said.
Anyone interested in employment opportunities may visit https://www.beontag.com/career/.
About the Author
