STOW: Two local manufacturers are closer to breaking ground on expansions after City Council action Thursday.
Chandler Machine Co. wants to add 10,300 square feet to its Hudson Drive facility at a cost of about $725,000. The project, expected to break ground in August and finish by March, will more than double its existing 7,500 square foot building.
Chandler is in one of the city’s four Community Reinvestment Areas, where growing businesses can apply for a tax incentive program.
In Chandler’s case, the company has agreed to add three new jobs in the next three years — an increase of $88,000 to its existing $581,000 payroll — in exchange for a 100 percent, seven-year tax exemption on any new property valuation resulting from the expansion.
Meanwhile, the project developer agrees to pay half the millage due to the Stow-Munroe Falls City School District for the expansion. That lump sum will be paid annually for the next seven years.
The council has approved the agreement and forwarded it to the school board for consideration.
In other action, the council approved site plans for a 6,900-square-foot addition to the RF Cook Manufacturing Co. on Allen Road.
The company intends to expand its existing 18,400-square-foot facility to create an area for the manufacturing of advanced gauges in a climate-controlled environment.
The company indicated it may hire two to six new employees after the project is complete. Construction is expected to begin before the end of the year.
“We’re very pleased these companies are investing in Stow,” city Planning Director Rob Kurtz said.