Dublin Council OKs incentives for Hexion to open North America innovation hub
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Summary
Dublin City Council approved an economic development agreement offering a 15% performance withholding incentive and a $200,000 location grant to Hexion Inc. to lease and retrofit an 80,000-square-foot facility and recruit STEM staff.
Dublin City Council voted to approve incentives to Hexion Inc. to locate a North America innovation hub in the city, authorizing a performance-based withholding incentive and a $200,000 location grant.
The approved package includes a 15% performance incentive on withholdings over seven years, which staff said is valued at $314,000 for the term of the agreement, plus a separate $200,000 location grant to support construction costs tied to renovation of the leased facility. City staff presented the ordinance and recommended approval.
Hexion representative Zaru Tecky, identified in the meeting as senior vice president and chief technology officer, told the council the company plans to lease an 80,000-square-foot facility at 5200 Blazer Parkway to consolidate North American research-and-development and technical-service operations. "I'm here to respectfully request your support for the location grant and performance withholding incentives proposed by the city of Dublin," Tecky said. He said Hexion expects to relocate and hire about 50 highly skilled STEM professionals immediately, with a projection of 75 employees by 2027 and 100 by 2028.
A member of the council announced a recusal before the discussion; the transcript does not identify which council member recused. After public comment and no council questions, the clerk called the roll and recorded affirmative votes from Council Members present, resulting in approval of the ordinance.
City staff indicated the incentive supports the company’s investment and planned workforce growth in Dublin and that JobsOhio had been a partner in the recruitment process. The ordinance authorizes execution of an economic development agreement with Hexion Inc.; the council did not amend the agreement during the meeting.
Next steps noted by staff include finalizing the economic development agreement and moving forward with the company’s lease and renovation plans. No additional conditions or follow-up reports were stated in the meeting record.
