Tooling Technology LLC is relocating its headquarters from Ohio to Macomb Township, Mich., in a $19.9 million move it says will create 100 new jobs over five years.
The toolmaker plans to uproot from Fort Loramie to Michigan, where 257 of its total 650 employees work out of four different locations, according to a news release from the Michigan Economic Development Corp.
Founded in 1982, the company's automotive supply business has grown steadily. It operates 12 plants around the country and claims to be the largest tooling provider in the United States.
MEDC is granting the company a $750,000 performance-based grant in support of the project, and Macomb Township has offered a reduction in property taxes of approximately 50 percent. Macomb Township is a suburb of Detroit.
“We have aggressive growth plans, and being in Macomb in southeast Michigan puts us in a good position to accomplish them,” Tooling Tech Group Chairman Tony Seger said in a written statement.
Tooling Tech makes compression molds and molds for blow molding, thermoforming and structural foam. The company also makes die-cast tooling and stamping dies. The company ranks No. 2 in Plastics News listing of North American mold makers, with annual sales of $185 million.