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City Council To Vote On Grant For Mentor Manufacturer Tonight

Council also to discuss deer management and the It's Better In Mentor festival at work session before the regularly scheduled meeting

 

Mentor City Council can vote on whether to give Angstrom USA, the owner of Worthington Precision Metals, an incentive grant during its meeting 7 p.m. Tuesday at City Hall.

Angstrom USA previously bought Worthington's assets when the Mentor manufacturer was foreclosed on in 2010.

Then, Angstrom bought the building that housed Worthington for $1 million in December.

Now, the business intends to invest another $3.3 million into the building, machinery and equipment during the next three years, according to the proposed legislation on which City Council will vote.

As with all incentive grants that the city offers, the proposal with Angstrom is tied to the company's payroll in Mentor.

The business said it expects to maintain 50 jobs and eventually add 30 more. However, it should be noted that the number of jobs at Worthington is expected to dip this year before recovering, according to the legislation.

The proposed grant would last seven years and save Angstrom $110,000 in taxes during that time.

As part of the bargain, Angstrom is supposed to maintain a payroll of $2.7 million this year, $3.5 million next year and $4.3 million from 2014 to 2018.

Worthington opened in 1946 and produced components for automobiles, including brake pistons, fuel injector housings, shafts and hydraulic pressure release valves.

Also, at the City Council meeting:

Before the meeting, the Council will hold a work session at 5:30 p.m. in City Hall. During the session, Council will discuss the It's Better In Mentor festival and the city's proposed deer management program.

The agenda and legislation for the meeting is attached to this story as a PDF.

Related Topics: Angstrom Precision Metals, City Council, and Worthington Precision Metals

David Leinweber

3:28 pm on Tuesday, February 7, 2012

How about a name for the festival that is not so arrogant. Mentor Community Days or Mentor Festival.

Reply

Joseph

7:15 pm on Tuesday, February 7, 2012

Or tie the festivals name to Christianity. Heads would fly! haha
Vote no on the seven year grant saving Angstrom $110,000.

Reply

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