Ohio Gov. Mike DeWine and Lt. Gov. Jon Husted recently announced the approval of assistance for MUM Industries in Mentor as one of 14 projects in the state set to create 1,663 new jobs and retain 3,457 jobs statewide.
According to a news release from the governor’s office, during its monthly meeting, the Ohio Tax Credit Authority reviewed economic development proposals brought to the board by JobsOhio and its regional partners. Collectively, the projects are expected to result in more than $99.7 million in new payroll and spur more than $202.6 million in investments across Ohio.
MUM Industries expects to create 45 full-time positions, generating $2.1 million in new annual payroll and retaining $4.3 million in existing payroll, as a result of the company’s expansion project in Mentor. MUM Industries primarily manufactures metallic and non-metallic enclosures for electrical equipment.
The TCA approved a 1.127%, six-year Job Creation Tax Credit for this project, according to the release.
“The city of Mentor was pleased to be able to participate, encourage, and aid in the expansion of MUM Industries, Inc. with our state and regional partners,” Mentor City Manager Ken Filipiak said. “MUM Industries’ success is a prime example what happens when you provide a fertile climate like we have in Mentor for business growth.”
According to the company website, it was founded in 1996 and is the parent company to a diverse group of industrial product manufacturers: Integra Enclosures, StrongBox and EMF. MUM has six locations across the globe, including three in the United States – Mentor, Dallas and Escondido, California.
The company headquarters in Mentor manufactures enclosures in various sizes and materials to protect electrical components from harsh environments.
MUM Industries has steadily grown its Northeast Ohio operations, receiving both a Lake-Geauga Fast Track 50 Award and Cleveland Top Workplaces Award in 2022. The company selected the Northeast Ohio Region for this upcoming expansion due to the cost efficiencies achievable here – from labor to tax rates, according to a Team NEO news release.
Team NEO is a private, non-profit economic development organization accelerating business growth and job creation throughout the 18 counties of the Northeast Ohio Region. CEO Bill Koehler is enthusiastic about the expansion of the company in the area.
“The Northeast Ohio Region is a perfect match for MUM Industries, Inc. to build its roots, given the exceptional legacy – and current strength – of the manufacturing industry here,” Koehler said. “We are confident they will continue to grow with their innovative enclosures for many years to come. Along with our local partners, ODOD and JobsOhio, we congratulate MUM Industries, Inc. on its expansion and look forward to working with the company to ensure their long-term success here.”
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December 10, 2022 at 04:31AM
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MUM Industries in Mentor among those given statewide job creation tax credit - news-herald.com
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