The expanded facility for Sumitomo Electric Wiring Systems Inc. is officially underway.
Company officials and other business and government leaders gathered for a groundbreaking ceremony Tuesday, Feb. 18.
Sumitomo is building a 355,000-square-foot distribution and manufacturing facility at 14684 Industrial Parkway in Marysville.
The company, which designs and manufactures electronic systems for the automotive industry -- including Honda of America Manufacturing -- is consolidating its four locations in Marysville. The project is expected to create 15 new jobs and retain 123 others.
"The Columbus region's proximity to key automotive customers provides a strategic location to continue to grow our operations," said Bick Marshall, vice president of Sumitomo Electric Wiring Systems Inc. North America, in a press release. "Consolidating all of our existing Marysville-based associates under one roof will create much greater efficiencies, and be beneficial to our workforce, our customers and our community."
The 15 additional jobs will result from new testing capabilities at Sumitomo's local operations.
Sumitomo has been in Marys-ville for 17 years. Its four facilities on Square Drive, which total about 311,000 square feet, focus on customer service, development and repacking capabilities.
Eric Phillips, executive director of the Union County Economic Development Partnership and CEO of the Union County Chamber of Commerce, said in an email interview there are no plans at this point for those buildings.
"They are not owned by Sumitomo. We have been in contact with the brokers who represent the property owners. They are marketing the buildings for future users," he said.
Mayor John Gore said the city is thrilled to see another automotive-oriented business growing and investing in Marysville.
"Sumitomo's retention of its existing workforce and the commitment to new capabilities and jobs is a win for the entire Columbus region," Gore said in the release.
Jason Stanford, business development manager for the Union County Economic Development Partnership, announced Sumitomo's plans and $10 million investment at the Oct. 10 Marysville City Council meeting.
At the Oct. 24 council meeting, Phillips said the enterprise zone negotiating team met and recommended a 75 percent, 10-year tax abatement in accordance with the Economic Development Incentive Policy. Council approved an enterprise-zone agreement between the city, Union County, Sumitomo and Sumary Investment LLC. The latter is part of Carey Realty Investments.
"It's important to note that it's a major investment. They are a major supplier to Honda. It's important to Honda and their future, as well as important to Sumitomo's future," Phillips said at the time.
The current 123 Sumitomo jobs have an annual payroll of $6.2 million. The additional 15 jobs are expected to add $675,000.
Columbus-based developer Carey Realty Investments is investing $10 million into the build-to-suit facility, which it will lease to Sumitomo. The building will include 24,000 square feet of office space and 5,000 square feet of automotive lab space. It is expected to be complete late in 2014.
Regional economic development entity Columbus 2020, working through JobsOhio, also played a role in attracting the investment. Officials from both organizations attended the groundbreaking.