Local tool and die company gets 7-year state tax credit
YOUNGSTOWN — Youngstown Tool and Die has been awarded a 1.46 percent, seven-year state job creation tax credit to support its expansion at the Salt Springs Industrial Park.
Phoenix International, Youngstown Tool and Die’s parent company, will invest more than $12 million to build a 60,000-square-foot manufacturing plant and equip the facility with the latest advanced technology to service existing customers and expand market share.
At full capacity, the facility, which will continue to operate as Youngstown Tool and Die, will employ approximately 100 permanent, full-time workers with a projected daily production of 100 dies.