Ohio Star Forge in Champion to hold groundbreaking on $20 million investment
Ohio Star Forge Co., 4000 Mahoning Ave. NW, will have a groundbreaking ceremony for its $20 million expansion project at 10 a.m. today.
Ohio Star Forge, an independent subsidiary of Daido Steel, a specialty-steel conglomerate with operations in the U.S. and Japan, says it will add 26 jobs in the next three years and retain 95 others.
The plant makes forgings for the automotive and fastener industries.
The expansion includes construction of a 33,000-square-foot building and includes $14 million in machinery and equipment, $3.7 million in building costs, $100,000 in land costs and about $2 million in other expenses.
In February, the Ohio Tax Credit Authority approved $107,483 in job-creation tax credits for the company.
The company also will receive a $30,000 workforce-training grant, which will go toward training current and new workers.
Ohio Star Forge operates in part of the former Copperweld Steel complex.