Treves to Bring 91 Jobs to Fostoria

Mar 23, 2018 | News |

By Lou Wilin.
The Review Times.

Treves, a maker of noise-reducing parts for cars, won a state tax credit to create 91 jobs in Fostoria, paying an average of $37,362 per year. The company based in Paris, France will move into a 40,000-square-foot spec building constructed last summer at Fostoria Industrial Park.

Treves is tentatively planning to start operations in April at the 615 S. Corporate Drive site, said Renee Smith, president of Fostoria Economic Development Corp. It will start with fewer than 91 employees, Smith said. To get the full payroll tax credit, worth up to $3.4 million over seven years, Treves must create 91 jobs by year-end 2020. The tax credit was approved Monday by the Ohio Tax Credit Authority.

In luring Treves, Fostoria beat competition from Alabama, Michigan and Mexico, the state Development Services Agency reported.
“Obviously we are very excited about this. This was our goal when we constructed the spec building,” Smith said.

Smith and other Fostoria economic development officials did not know who the building user would be when they secured a $1.2 million loan in 2016 from the city’s Revolving Loan Fund to finance the building. But over the past eight months it became increasingly clear that Treves was a fit.

“They were obviously looking for an existing building. They wanted a Midwest presence,” Smith said. “Workforce is always a concern. We have had multiple conversations with the company about that. They had several community visits. We met with them several times. They seemed to really like the community and the building.”

The building was constructed as a shell so any company moving in could customize the facility to fit its needs. In addition to the 40,000 square-foot building, the site is also expandable by another 60,000 square feet. On Nov. 22 FEDC finalized the sale of the building to FleetOhio, LLC. who will own the building and will be finishing the building construction over the next few months. They have a signed long-term lease agreement with the Treves.

Treves’ customers include General Motors, Ford, Fiat Chrysler Automobiles and BMW. Treves specializes in noise-reducing barriers and carpeting for vehicles.

Call for Presentations for the 2018 OEDA Annual Summit

OEDA invites you to submit a proposal to present at the 2018 Annual Summit, themed “Back to Basics” to be held October 17-19 at the Columbus Renaissance Downtown. The sense that 2018 is going to be a very busy and dynamic year serves to remind us that we need to be doing the foundation work better than ever in order to have great success.

read more

Team NEO Event – NEO Rising: Celebrating Today. Building Tomorrow.

In 2017, the regional economic development partners across the 18 counties of Northeast Ohio worked together to achieve or exceed goals set by JobsOhio in four categories: projects completed, jobs created/committed, payroll added/committed and capital investment. Let’s keep the momentum going!

read more

JobsOhio 2017 Annual Report Highlights Results

This report provides an overview of how JobsOhio executes its mission to drive job creation, new capital investment, and economic growth in Ohio through business attraction, retention, and expansion efforts.

read more