A Japanese, Columbus-based, automotive fastener company received approval for a 10-year tax abatement after announcing a $6.5 million planned expansion at Woodside Northwest Industrial Park.

Columbus City Council members voted unanimously to approve the tax abatement request for OSR, Inc., a company that has been in Columbus since 2002, with headquarters in Japan.

The company plans to purchase a 10-plus acre parcel of land for the development, and in addition to building the new facility, the company plans to install new manufacturing, quality and logistics equipment, company officials said. 

The expansion will result in 29 jobs being retained at the company, while 12 jobs will be added by next year with an expected average wage of $20.17 per hour, a company official said.  

Greater Columbus Economic Development Corporation provided site search, incentive guidance, and other support for the project, according to Jason Hester, president of Greater Columbus EDC, who was in attendance at the January 16 Council meeting.  The project is also contingent upon the successful awarding of State incentives, which are also being pursued, said Hester.      

More on this story can be found at TheRepublic.com, and additional information on the company can be found at osr-inc.biz/index.html.

(The above is an excerpt of a story published in The Republic, January 17, 2019, with additions by Greater Columbus EDC.  Used by permission.)