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A longtime Mansfield manufacturer is moving forward with a $74.5 million expansion that is expected to create approximately 70 new jobs and add millions of dollars in annual payroll to the local economy.
The Richland County Port Authority approved up to $21 million in revenue bonds Monday for Newman Technology, allowing the company to take advantage of state and local sales-tax exemptions on materials and equipment used in the expansion.
The tax arrangement is expected to save Newman approximately $742,658 in state and local sales taxes. In return, the company will pay an estimated $185,774 in fees to the Port Authority, which can be used for future economic-development projects.
70 New Jobs Expected
Newman currently employs approximately 630 people in Mansfield.
The expansion is expected to add about 70 additional jobs, along with an estimated $3.5 million in additional annual local payroll.
Jessica Gribben, president and CEO of Richland Area Chamber & Economic Development, described Newman as the type of established local employer economic-development officials want to support.
The company will celebrate its 40th year of operations in Mansfield in 2027.
New Building and Production Equipment
The project includes construction of a 25,000-square-foot building along with new production lines and equipment.
Newman also plans to install a 1,500-ton stamping press. Work on that portion of the project is scheduled to begin in September, with completion expected by October 2027.
The company is expected to make roughly $50 million in investment in new projects, production lines and press machines as part of the broader expansion.
Newman Technology is a Tier One automotive supplier, meaning it manufactures major systems, modules or complete assemblies directly for original equipment manufacturers. Its primary customer is Honda.
Multiple Incentives Supporting Expansion
Monday’s Port Authority action is the latest in a series of incentives supporting the project.
The Ohio Tax Credit Authority approved a 1.225-percent, six-year Job Creation Tax Credit for Newman in March.
In July, Mansfield City Council approved a 100-percent local property-tax abatement for 15 years on the new development.
Under a separate agreement, Newman will make payments to the Madison Local School District to help offset the impact of the property-tax abatement. The city will also use a portion of additional income-tax revenue generated by the expansion to help compensate the school district.
Barrett Thomas, senior director of economic development for Richland Area Chamber & Economic Development, said the project stands out because of the number of jobs expected from a relatively small expansion footprint.
The new building represents only about 25,000 square feet, while the project is expected to generate approximately 70 jobs.
Newman’s Mansfield operation has grown substantially since the company began locally in 1987 with just under 40,000 square feet. The company now has more than one million square feet of production space in the city.
The expansion is expected to strengthen one of Mansfield’s established manufacturing employers while bringing additional jobs, payroll and investment into the community.
