Ohio aids Step2 expansion

By Bill Bregar
Senior Staff Reporter

Published: August 31, 2012 6:00 am ET

Step2’s Clubhouse Climber (Step2 Co. LLC photo)

Related to this story

Topics Consumer Products, Rotomolding

STREETSBORO, OHIO (Aug. 31, 2:20 p.m. ET) — The state of Ohio has approved tax breaks that will help Step2 Co. LLC add employees and invest in equipment at its two factories that make rotational molded toys, mailboxes and lawn and garden products.

The Ohio Tax Credit Authority approved the tax credits Aug. 27, covering Step2’s headquarters factory in Streetsboro, Ohio, and its other plant, in Perrysville, Ohio. Step2 will get a 45 percent, six-year tax credit from the expansions.

Step2 expects to add 125 jobs in Streetsboro and 75 jobs in Perrysville over the next three years. Together, the hiring should generate $5.3 million in annual payroll, according to the Ohio Tax Authority, which is part of the Ohio Department of Development.

In Streetsboro, the company will build a warehouse that will centralize distribution, currently housed in several temporary facilities, the state said. At both Streetsboro and Perrysville, Step2 will modify existing equipment and invest in new machinery. The type of new machinery was not specified, and Step2 officials could not be reached for comment.

In 2009, Little Tikes Co. — Step2’s arch-rival neighbor — was awarded a $3.2 million low-interest loan to keep the toy rotomolder in Hudson. Officials of Tikes parent MGA Entertainment Inc. had asked for government assistance, saying that the company could move out of its hometown to another state, or to Mexico.

Both companies have added jobs in the past year, according to Plastics News’ most recent rotomolders ranking. Step2 added 100 jobs. Little Tikes reported adding about 170.

Tikes General Manager Tom Richmond said the new hires are about evenly split between full-time and temporary employees. “We’re up substantially,” he said.

The hiring boomlet means that together the companies employ about 1,500 total workers — making northeast Ohio a center of the U.S. toy industry.


Comments

Ohio aids Step2 expansion

By Bill Bregar
Senior Staff Reporter

Published: August 31, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Shipping slowdowns add to season's stress

December 16, 2014 4:02 pm ET

Toy companies know what they want for Christmas: an end to crippling shipping delays at West Coast ports.    More

Storage tank maker goes public in Mexico

December 10, 2014 3:14 pm ET

Grupo Rotoplas SAB de CV is hoping to raise $250 million through the stock offering.    More

Image

Ecover's Ocean Bottle wins another award

December 10, 2014 9:23 am ET

The bottle is made from ocean and other plastic waste.    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events