Injection molder Axiom Group Inc. expects to spend $20 million to set up shop in Toledo, Ohio, an expansion that will create at least 250 jobs.
The Aurora, Ontario-based company plans to locate its first U.S. manufacturing facility in the Overland Industrial Park, on redeveloped land that was once home to a Jeep plant.
Regional Growth Partnership, an economic development organization serving Northwest Ohio, indicated the "project is contingent on incentive approvals" from a state tax credit authority and JobsOhio, a nonprofit working to create jobs and attract investment in the state.
"We see investing in Toledo as a fantastic location for our latest facility and we are pleased with the government support and the open for business attitude," Axiom CEO Perry Rizzo said in a statement. He said the company is investing "significant resources, capital, and technology within the United States of America."
Axiom becomes the fourth business to locate in the industrial park since its redevelopment began more than 10 years ago.
Toledo Mayor Wade Kapszukiewicz called it a "major win" for his city in the project's announcement Nov. 11.
With the new project, more than 1,400 new jobs will have been created since the former automotive manufacturing site was razed and redeveloped, local officials said. The new location is expected to begin operations in 2020.
Other companies already at the industrial park include Dana Inc. Detroit Manufacturing Systems and Faurecia.
The region's "automotive talent and location within the automotive supply chain" are attractions for Axiom, said Dana Saucier, vice president at JobsOhio, in a statement.
Axiom also has an injection molding facility in Guanajuato, Mexico.