MANSFIELD — A new company, Synova, LLC, is expected to bring 20 full-time jobs that have an average wage of about $50,000 to Mansfield, according to Tim Bowersock, economic development director for the city.
Synova will be co-located at the Pan-Glo facility, 1711 N. Main St. Both of these businesses share the same parent company, Bundy Baking Solutions.
The North Main Street building will be expanded in order to make room for Synova. The total project investment is $5 million, which includes $2.5 million in building costs and $2.5 million in equipment, Bowersock said.
“We competed for this project with Tennessee and Florida, where they have other facilities, and they chose Mansfield,” Bowersock said. “Basically, they liked the workforce here. They liked the location. They thought that this is where this project fit best.”
Construction is slated to begin in August. Bowersock said the business hopes to be operational by Jan. 1, 2018.
“They will be developing a new (bakeware) product — a new coating material, and then selling and distributing that product right from Mansfield,” Bowersock said.
Pan-Glo reconditions baking equipment for commercial bakeries. “They strip the coating on the pans, reapply and bake it on, then send the pans back to the bakeries,” Bowersock said.
“This operation’s impressed me since the day I started working with them, when they decided to bring Pan-Glo here,” Bowersock said. “Would have never imagined what kind of dollars are involved in the baking industry, you know, as far as the pans themselves go. It’s just unbelievable.”
Jobs, including general labor, engineering, chemical and management, will be created over a three-year period starting 2018.
“They’re primarily going to be hiring more technical jobs because of the development of the product itself,” Bowersock said.
Total payroll comes in at $1.5 million.
Mansfield City Council approved entering into a six-year job creation tax agreement with Synova at its meeting Tuesday.
Council also approved an enterprise zone agreement with Bundy Realty Company, the real estate holding company with Bundy Baking Solutions, for certain tax incentives in expanding its North Main Street facility.
“It’s a 100-percent tax abatement agreement for 10 years, accompanied by a school compensation agreement with Madison Local Schools,” Bowersock said. “The compensation is 30 percent of the abated taxes.”
Under the agreement, Bundy Baking Solutions will make an annual cash payment of $20,318 to the Madison Local School District for 10 years, from Dec. 31, 2019 through Dec. 31, 2028.
