TIFFIN — Taiho Corp. of America, a Japanese auto parts manufacturer that employs 180 workers at its plant in Tiffin, said it will undertake an $8 million expansion of its manufacturing operations and headquarters in Tiffin. It expects to create 50 jobs.
The announcement came this week from Karen Bowers, director of the Seneca Industrial and Economic Development Corp., after the Tiffin City Council approved a 50 percent municipal job creation tax credit worth $37,000 over five years.
Taiho plans to complete the expansion within three years and the project will allow it to supply polymer-coated bearings to customers as well as produce a new line of vacuum pump products.
Taiho makes more than 120 million parts a year in Tiffin, supplying engine bearings, bushings, and other bearings to Toyota, Chevrolet, Cadillac, and Honda.
Taiho received a $35,000 economic development grant for the expansion from JobsOhio and the Regional Growth Partnership in Toledo.
Taiho had a state job creation tax credit stemming from a $13 million plant expansion it made in 2012.