The city-county Industrial Development Board has approved a nine-year property tax abatement to facilitate Shiloh Industries Inc. in relocating to the Clarksville Montgomery County Corporate Business Park.
The company supplies aluminum and steel to automotive companies including the Nissan Plant in Smyrna. Shiloh with take over the former 75,000 square foot Contech/Metal Forge factory and generate 160 new jobs through its $20 million investment.
The tax abatement will decrease Shiloh’s tax liability over a nine year period.
Located in Vally City, Ohio, Shiloh Industries is dedicated to delivering lightweighting, noise and vibration solutions to automotive, commercial vehicle and other industrial markets. Every day, our focus is on successfully balancing the need to reduce cost, weight and part complexity with the need to enhance performance, safety and fuel efficiency.
The jobless rate for Clarksville/Montgomery County has dropped .4% to 5.3 %, according to the Department of Labor and Workforce Development. That's below the national average of 5.4% and the state average of 6%.