103111 Seaman Corporation to expand in Wooster

  • By Sharon Haught
  • October 25, 2011
  • 302
                        
Summary: New jobs are coming to Wooster thanks to Seaman Corporation’s decision to expand its Wooster headquarters and manufacturing facility. New jobs are coming to Wooster compliments of a local company that has been a stalwart in the community since 1986. The announcement that Seaman Corporation would be making a substantial capital investment in its Wooster headquarters and will see its staff grow by nearly ten percent came during the Oct. 17 meeting of Wooster City Council. Wooster Mayor Bob Breneman noted that Seaman currently “employs 141 people locally so it’s a great manufacturer and employer in our town and we truly wish them well with the expansion.” “What an exciting opportunity we have this evening to support a flagship company within the City of Wooster,” said Councilman Jon Ansel, who introduced the tax incentive legislation council ultimately approved by a unanimous vote. “This is a significant investment on behalf of the Seaman Corporation,” said Ansel noting that Seaman will be investing $3.5 million on new construction and building improvements to existing buildings and $4 million on machinery and equipment for a total investment of $7.5 million. According to Ansel Seaman plans to update its Venture Blvd. manufacturing facility include “an expansion at its corporate offices and manufacturing and the installation of new equipment and technology to allow them to remain competitive not only globally but with their sister manufacturing facility in Bristol, Tenn.” Ansel noted that as a result of the expansion Seaman will create 12 new jobs within a three year period and have agreed to retain those jobs throughout the abatement period and for 10 years beyond. According to Ansel at an average salary of $25.35 per hour or more than $50,000 annually, the new employment opportunities represent “a sizable increase in terms of job growth within our city.” Under the agreement Seaman will receive a ten year 50 percent abatement on their real property taxes for the new $7.5 million investment the company is making in its Wooster facility. According to Ansel that’s “well below the maximum that is permissible by our guidelines so we are very thankful that a conservative approach was taken on behalf of Seaman Corporation.” Even with the temporary partial abatement, the city and school district stand to receive a significant amount of new tax revenue from the Seaman expansion. “We hear of tax incentives or tax abatements and we don’t really understand that the unabated portion still drives economic bottom line influence for the city and the schools,” said Ansel. “Even with the abatement the new financial impact on property and income tax will, over a 10 year period, be $434,820 on property taxes as well as $63,200 in projected income tax receipts so combined we’re looking at close to a half a million dollars financial positive impact and thereafter we receive the full amount,” said Ansel. Of that close to a half million dollar total “Wooster City Schools will be receiving over the period about $305,000 which is really a windfall for the schools,” said Ansel noting that the Wooster City School District Board of Education unanimously supported Seaman’s request. “When a company can come in and want to expand and not go for the full amount but go for 50 percent...it’s just outstanding,” said Councilman Jon Ulbright noting that the expansion “will certainly generate some needed income for the city, the citizenry and the school district.” “Thank you Seaman Corporation for being a great business and mover and shaker here in the City of Wooster and wanting to stay here,” said Councilman Mike Buytendyk adding “it’s companies like that that make Wooster a great place to live.” “Thank you so much for reinvesting in our community,” said Council Representative Barbra Knapic adding “you’re a wonderful corporate citizen and we’re very proud to have you here in Wooster.”


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