WARREN - A company that makes remote control products for energy, rail and other industries is considering bringing its operations and about 55 jobs to Warren.
Officials from the State Department of Development on Monday approved Cattron-Theimeg Inc. for a 55 percent, nine-year Job Creation Tax Credit, should the company follow through on talks to bring its operations to the city.
The multi-million company with locations in Sharpsville, Pa., and other operations around the world, manufactures remote control products and services for mining, commercial, mobile, railroads and other industries.
The company has narrowed its search for a new location to an unnamed existing building in Warren and another possible location in Pennsylvania, according to Sarah Boyarko, Regional Chamber vice president of economic development. Boyarko escorted the company to the meeting in Columbus on Monday.
"They have not yet made a decision, and we hope this is something that will encourage them to come our way," Boyarko said. "They are pleased with the tax credit award."
Cattron-Theimeg Inc. is expected to create 55 full-time positions, generating $3 million in additional annual payroll by Dec. 31, 2016, and retaining $9.5 million in existing payroll as a result of the company's new location project, according to a release from the governor's office.
The Ohio Tax Credit Authority approved the tax credit on Monday as one of 13 projects across Ohio set to create 1,311 jobs and retain 1,691 jobs statewide.
Warren Safety Service Director Enzo Cantalamessa said the city has not received a lot of information about the scope of the proposal.
"We are happy they received the tax credit," Cantalamessa said. "We do not know where they are going to locate. We are waiting to learn if they plan to move here."
Cantalamessa said he was not part of the group of people that provided Cattron representatives tours showcasing potential locations for its facilities.
"Whether they want to build or move into an existing site, we have locations available," Cantalamessa said.
City council recently expanded a program allowing companies bringing in new jobs to receive local tax credits.
"It was not done with this project in mind," Cantalamessa said.
Both the city and the Youngstown / Warren Regional Chamber sent letters in support of the project.
Cattron Group Inc. was created in 1946 by Jim Cattron Sr. as a radio installation and maintenance service company.
Today, a multi-million dollar corporation, Cattron has locations in Sharpsville, Pa., and a second location on the west coast. It has operations in South Africa, Brazil, as well as Canada and Europe.
Tribune Chronicle Business Editor Brenda J. Linert contributed to this story.