New Horizons plans $13M expansion of Toledo bakery
Posted By: The Toledo Blade on May 9, 2023. For more information, please click here to read the source article.
New Horizons Baking Company plans to invest more than $13 million to add a second English muffin production line at its North Toledo facility, economic development officials announced.
The company has said it plans to add at least 45 new jobs with an annual payroll of $2.3 million to staff the new line. The Ohio Tax Credit Authority on Monday approved a six-year tax credit worth an estimated $125,000 to assist New Horizons with the project — one of several regional projects that obtained state tax assistance from the authority this week.
The tax agency said Ohio had been competing with locations in Indiana for the New Horizons project. The Regional Growth Partnership and JobsOhio helped secure the project, according to an RGP announcement.
New Horizons is headquartered in Norwalk, and currently employs 550 people across four regional locations including in Toledo at 1015 New York Ave. The company is seeing increased demand for its English muffins which necessitated the new line including machinery as well as 20,000 square-feet for cold storage.
Production on the new line is expected to start in February. It’s the second major expansion at the Toledo baking facility in the last seven years.
Several other regional projects were approved for Ohio tax credit assistance on Monday:
- P.M. Electro Auto Inc., an India-headquartered firm, has proposed building a facility in Toledo that would construct metal tubes used in the solar industry. The Ohio Tax Credit Authority approved an eight-year credit worth an estimated $560,000 to entice the company, which has said the facility would create 100 full-time jobs. Toledo is competing with sites in Michigan for the project, the state said.
- GVS Filtration Inc., an Italian company, has proposed an expansion of its existing facility in Findlay to manufacture several types of filters for automotive, safety, and health care purposes. The state authority approved a seven-year credit worth an estimated $435,000 in return for the company creating 74 new jobs. Findlay is competing with Monterrey, Mexico, for the project, the state said.
- Tekni-Plex Inc., based in Pennsylvania, has proposed a new manufacturing facility in Van Wert that would manufacture egg cartons. The state authority approved a seven-year tax credit worth an estimated $430,000 for the project in return for the company creating 100 full-time jobs. Ohio is competing with Indiana for the project, the state said.
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