An iron-casting foundry in the township plans to expand into aluminium casting with a $52 million investment that will create 34 new jobs, according to the company’s application for tax abatement.
Ellwood Engineered Castings, 7158 Hubbard Masury Road, has plans to expand into the aluminium casting business with Ellwood Aluminum and was given approval Monday by Hubbard trustees for a 10-year, 60-percent tax abatement, said trustee Fred Hanley.
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Even with the tax abatement, the township can expect about $50,000 more a year in tax revenue, Hanley said.
“This is a win for the township, a win for the county. We thank the company for being such good neighbours and for entrusting the community with such a sizeable investment,” Hanley said.
Trumbull County commissioners at their Sept. 19 meeting are expected to vote on the abatement, said Nicholas Coggins, interim director of the Trumbull County Planning Commission.
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