A Japanese company providing support in the new development of automotive and other industrial products has announced plans to open its first North American facility in Toledo.
TPAM, a subsidiary of Topia, is a leading prototyping company and one of the few specialist companies that can handle all parts of the product-making process. The company will invest $4 million and create at least 30 new jobs with the potential to hire a significant number of additional people in the next five years.
TPAM cited Ohio’s low cost and favorable business climate as key factors in the decision to locate in Toledo, as well as the proximity in the marketplace relative to the company’s customer base. The company will take over an existing 62,000 square-foot facility in north Toledo.
“Northwest Ohio’s competitive assets continue to attract significant investment in the advanced manufacturing industry,” said Dean Monske, president and CEO, Regional Growth Partnership. “In collaboration with JobsOhio, we congratulate TPAM and look forward to working with the company in its growth and expansion.”
TPAM received several grants and incentives through JobsOhio, the Ohio Tax Credit Authority, the city of Toledo and Lucas County.
The Regional Growth Partnership is a private nonprofit development corporation dedicated to fostering regional, national and international business investment opportunities in Northwest Ohio. The RGP serves as Northwest Ohio’s network partner for JobsOhio.