| Quaker Chemical to Create 40 New Jobs in Middletown |
| Friday, July 25, 2008 10:42:37 AM - Middletown Ohio |
From left to right: Leslie Ford, 2nd Ward Councilwoman, City of Middletown; Craig Bush, Director of Corporate Development, Quaker Chemical; Bill Murphy, Economic Development Director, City of Middletown; Michael F. Barry, Senior Vice President and Managing Director, Quaker Chemical; Judy Gilleland, City Manager, City of Middletown; Ronald J. Naples, CEO and Chairman, Quaker Chemical; Larry Mulligan, Mayor, City of Middletown; and, Fred Sansom, Director Worldwide Operations, Quaker Chemical.
by John Beagle
Quaker Chemical Corp. broke ground on a $19.8 million expansion with the help of Middletown Mayor Lawrence Mulligan, City Manager Judy Gilliland and several other prominent company officials.
The Quaker Chemical project will triple (3x) blending production capacity in Middletown, adding 12,000-square-feet, according to a company press release.
Victory for the city
Middletown was competing for the expansion with Quaker Chemical's Detroit facility. Only one location was be considered for expansion. In order to get the job, the city of Middletown provided Tax incentives, and the Butler County Port Authority helped with construction bonds. As a result, 40 new jobs will be created. Thes new jobs are estimated to generate $1.5 Million in wages, salaries and benefits in Middletown. The city will see an increase in operating and payroll tax revenues. Additionally, local contractors, restaurants and retailers will benefit from before, during and after the construction of the facility.
Funding Details
$3.5 million Ohio Department of Development loan and $10 million in industrial development bonds distributed through the port authority. It took about three years of efforts from the city and the Butler County Port Authority to secure funds for the project.
According to local news sources, Quaker has made three capital investments in Middletown since 2002, the year they acquired the facility from United Lubricants.
About
Quaker is a $545.6 million dollar company headquartered in Conshohocken, Pennsylvania, USA, with regional headquarter locations in Uithoorn, The Netherlands, Rio de Janeiro, Brazil and Shanghai, China.
Quaker Chemical Corporation is a leading global provider of process chemicals, chemical specialties, services, and technical expertise to a wide range of industries--including steel, automotive, mining, aerospace, tube and pipe, coatings and construction materials. Earnings are scheduled to be released on July 30, 3008.
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