Fiat Chrysler Automobiles is looking to build a $23 million vehicle customization facility near its Toledo Assembly Complex for the Jeep Wrangler and Gladiator.
Local Mayor Wade Kapszukiewicz announced a pending purchase agreement with the car manufacturer early this month. The local administration is looking to sell the site to FCA for $1 but will authorize a tax increment financing for the property prior to the sale. FCA will also provide the city with a conditional buy-back option that could allow the city to purchase the property back for $1 if they doesn’t develop the site within four years.
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The Toledo Blade reports that FCA plans to invest $23 million into the site, building a 250,000 square-foot facility expected to be operated by an outside supplier. This new facility could employ more than 300 people and would focus on manufacturing popular modifications for the Wrangler and Gladiator.
“This is another major economic development win for Toledo, which is already benefiting from the redevelopment of the former Southwyck Shopping Center property in South Toledo, the Overland site, the Ironville property, and the Marina Lofts Toledo development,” Mayor Kapszukiewicz said in a statement.
President of UAW Local 12, Bruce Baumhower, said that he is thrilled at the announcement, stating that the market for Jeep modifications is growing rapidly.
“It’s great for our community, and I think it’s a tribute to hardworking men and women in northwest Ohio and especially at the Jeep plant,” Baumhower said. “It tells other companies that this is a good place to do business because we have a good workforce.”
