A leader in advanced cutting tool technologies which are utilized in machine shops and production facilities worldwide has announced plans to expand its Northwest Ohio operations.

Located in Wood County, IMCO Carbide Tool, a member of IMC Group, will undergo a 15,000 square-foot plant expansion and hire at least 92 new people to support growing demand for its product. The $39 million project will begin in the third quarter of 2022 and be completed in the fall of 2023.

Earlier today, the Ohio Tax Credit Authority approved a Job Creation Tax Credit for the company.

“We believe American manufacturing will do very well over the next decade, and this expansion will allow us to meet the greater demand we’re forecasting for IMCO products.”

– Perry Osburn, President, IMCO.

Founded in 1977, IMCO manufactures tools made for the new age of metalworking. The company’s innovation in each end mill series is the result of IMCO’s advanced technology and continuous drive for greater productivity.

In choosing to expand at its existing site, the company credited its trained, dedicated workforce and the strong business climate as significant factors in the decision. 

“We have an outstanding workforce which we want to maintain and grow – that is why we chose to expand in Northwest Ohio,” Osburn said. “The logistics assets are also critical to our business, especially the proximity of Detroit Metro Airport, which allows us to efficiently transport and host our global customers.”

Also included in the expansion will be a new product demonstration and sales training auditorium for customers, which will also accommodate IMCO’s own product development and testing.

“IMCO Carbide Tool’s expansion in Wood County strengthens its position as a global leader in the new age of metalworking by advancing innovative designs that operate smarter, smoother, and with incredible precision. With talent from Ohio, IMCO Carbide continues to push boundaries and efficiencies as metalworking evolves worldwide.”

– J.P. Nauseef, President and CEO, JobsOhio

In addition to JobsOhio, both the Wood County Economic Development Commission and the Regional Growth Partnership played critical roles and worked collaboratively in moving the project forward.

The Regional Growth Partnership is the lead economic development organization serving 17 counties in Northwest Ohio. As a private nonprofit development corporation, the RGP is dedicated to fostering regional, national and international business investment opportunities across the region. The RGP serves as Northwest Ohio’s network partner for JobsOhio. Visit www.rgp.org for more information.

JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter and Facebook.