A need for more space is leading industrial manufacturing firm the Technology House Ltd. to move from Solon, Ohio, to nearby Streetsboro.
The injection molding and prototyping firm has grown in recent years, President Chip Gear said in a recent phone interview, creating the need to transfer primary operations from a 34,000-square-foot site in Solon to a 50,000-square-foot building in Streetsboro, about 15 miles to the south.
TTH employs 72, but will need to add 21 more jobs in the next three years to keep up with growth, Gear said. The firm does about 50-60 percent of its work in plastics, with the remainder in metal and other materials.
Other services provided by TTH include 3-D printing and computer numerically controlled machining. The company shares space with SEA Air Space Machining & Molding, a manufacturing firm owned by Gear's daughters.
TTH plans to invest $3.7 million to acquire the Streetsboro building and to purchase new manufacturing equipment. The firm also will receive a five-year, 37.5 percent tax abatement from the city of Streetsboro. That deal is expected to be worth almost $170,000.
About 40 percent of TTH's sales come from the medical market, with another 25 percent in aerospace. The firm also makes parts for automotive and other markets. TTH's plastic parts are based on polypropylene, nylon, polycarbonate and similar resins.
Gear — who founded TTH in 1996 — declined to release sales figures, but said that his firm “had a tremendous growth year in 2014.
TTH expects to make the move in the first quarter of 2015, he added. It will continue to use the Solon site for some manufacturing work.
