Dayton company may move here soon
- Published: December 22, 2015
A Dayton-based printing company, Dayton Mailing Services, is close to closing on a deal to purchase the former Antioch Publishing/Creative Memories building at 888 Dayton Street. When it does so, most likely by the end of the year, the company will move its business, including 74 employees, to Yellow Springs. The company, which has doubled its business in the past 10 years, has the intention of hiring 16 new employees within the next year.
“We feel very close to the end,” Greene County Department of Development Director Pete Williams, who has been working on the deal between the Village and the company, said on Tuesday.
On Monday night, Village Council unanimously approved a resolution authorizing an Enterprise Zone for the business, which is a tax break on property tax for any improvements to the property. The site is currently valued at $700,000 and the company plans to add $1.5 million in improvements, according to Williams. The property owners currently pay $20,000 in property taxes and the improvements would generate about $40,000 more in property taxes, of which 75 percent, or $30,000, would be waived for 10 years due to the Enterprise Zone program. However, the Village will receive the current $20,000 property tax plus an additional $10,000 for improvements during that time, and will receive the whole $60,000 in property tax after 10 years. The Village will also receive income tax on all DMS employees.
The company has been looking for a new space for its expanding business for over a year, and is excited to be moving to the former Antioch Publishing building, according to DMS owner Christine Soward at Monday night’s Council meeting.
“It can be a struggle looking for a new home,” she said. “But when you find the right place, you know it.”
See the Dec. 24 News for a more detailed story.