In partnership with the European American Chamber of Commerce, the project represents ongoing efforts by REDI Cincinnati to attract foreign investment to the Greater Cincinnati region. The project also received local support from the Warren County Port Authority. Modula received a Job Creation Tax Credit from the State of Ohio totaling 1.52 percent with a duration of seven years. “It checks all of those boxes of a top-notch-superior industrial building, and critically, it provides extra land for future company growth.” “This building could very well be the most iconic, identifiable and most well-known industrial building in the region, to folks both in the Commercial Real Estate world and the general public,” said Chuck Ackerman, Brokerage Senior Vice President of Colliers International. The site offers Modula capacity for future expansion. In addition, the opportunity to move into an existing building with large capacity was attractive. “It takes the work of all of our partners to accomplish this and I’m thankful for their commitment to the region.” “Modula’s investment in Franklin is a unique opportunity that combines foreign direct investment and one of our target industries-advanced manufacturing-into an iconic building,” said Kimm Lauterbach, REDI Cincinnati President and CEO. The company also credited the efforts of the previous owner, Certa LLC, in maintaining the building and keeping it move-in ready. Modula attributed its decision to locate at the 5000 Commerce Center Drive building because of its advantageous location closer to the company’s customers and the strong infrastructure in the region to support its delivery of products. Mayor Todd Hall added, “On behalf of the City of Franklin, I would like to take this opportunity to welcome Modula into our City. We look forward to a long-lasting partnership where together we can make Franklin a better place to live, work and play,” said Sonny Lewis, Franklin City Manager. “We are excited to welcome Modula to the City of Franklin. After considering other locations, Modula found that the 5000 Commerce Center Drive building in Franklin met all of its needs for both manufacturing and logistics, which led to the company locating both operations in the building. We are willing to invest in the rich, dynamic and skilled human capital of this region, able to work in an ‘industry 4.0’ advanced environment.”Īfter experiencing high growth in sold units, the company initially decided to expand in the United States by separately establishing a new manufacturing operation and logistics hub.
#DAYTON DAILY NEWS SOFTWARE#
“The highly automated production process is in line with the high technological level of our VLM products and the WMS software that goes with them. “Our target is to progressively establish a production capacity of 2,000 vertical lift modules per year in this building,” said Franco Stefani, Modula Chairman. We are sure that Modula will have a good impact in the local community of Franklin, and we are excited to start our new adventure there.” “After an accurate analysis, we chose Ohio and particularly the Cincinnati area because of the excellent position, the great industrial presence and the high professionality of JobsOhio and REDI Cincinnati, who helped us in the whole process. “Modula is facing an impressing growth worldwide with a pace of almost 25 percent year-over-year in the last five years, and particularly in the North American market we faced a further acceleration in the last two years,” said Antonio Pagano, Chief Executive Officer of Modula Inc. presence to expand its manufacturing capacity and increase its access to customers across the country. In an announcement with local, regional and state partners, Modula explained it decided to invest in Southwest Ohio for its second U.S. Modula, an international group with an Italian headquarters that manufactures automated storage systems, announced last week that it closed on the purchase of the Dayton Daily News building located in the City of Franklin in Warren County.
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