Concord Township recently issued industrial zoning permits for two projects that local officials expect to bring jobs and tax dollars to their community.
Cometic Gasket, Inc., is spending about $1 million to add around 11,000 square feet to its existing Concord Township facility, noted Heather Freeman, the township’s planning and zoning director. Meanwhile, Newbury-based Steven Douglas Corp. is planning to build an $8 million headquarters and manufacturing facility in Concord.
Jeff Gorman, the president of Cometic Gasket, said that his family-owned company will expand its facility so it can produce more engine gaskets for powersports, aftermarket racing and other automotive needs.
“We’ve been growing at a pretty good clip, so we purchased the property next to us a couple years ago, and now we’re just trying to add on so we can add more equipment and increase our output,” he said.
Gorman added that the expansion will bring 15 to 20 new jobs, noting that the company is “always looking for more employees.”
Gorman, who grew up in the area, said that the company will sponsor an upcoming event for the township’s bicentennial. Cometic Gaskets is also in talks with the township to design products for township vehicles including construction equipment and trucks.
“We’ve always enjoyed the Concord Township community, we think it’s also growing and has a lot to offer,” he said. “We take a lot of pride in being from Northeast Ohio and we like bringing our customers and suppliers in to show them around.”
Concord Administrator Andy Rose noted that the increased value of the facility, which has an estimated completion date of late spring 2023, will provide the community with more property tax revenue.
“We are happy for Cometic,” he said. “They have been a part of Concord’s manufacturing community for several decades and we love that they continue to grow and succeed.”
Meanwhile, Steven Douglas Corp. is looking to build a new headquarters and manufacturing facility on Discovery Lane. According to its website, the company produces equipment that is used in factory automation.
Rose said that the company needed a larger facility with improved highway access.
He said that in addition to the property tax revenue the facility will bring Concord Township, the township will receive tax revenue from the company’s net profits and all 54 employee incomes because the facility will be part of the Concord-Painesville Joint Economic Development District.
As noted on Concord Township’s Concord-Painesville JEDD page, 1.75% of employee income and company net profits will be taxed by the JEDD, with 69% of the revenue going to Concord Township, 23% to the city of Painesville and the remaining 8% to the JEDD Board.
Rose said that the Steven Douglas Corp. headquarters has an estimated completion date of summer 2023.