Dublin City Council has approved an economic development agreement with INEOS Composites, a manufacturer and seller of a broad range of general-purpose and high- performance grades of unsaturated polyester and vinyl ester resins, gelcoats and low-profile additives for the plastics industry.
Comprising 36 individual businesses, INEOS operates 194 facilities in 29 countries throughout the world. Currently located on Blazer Parkway, their INEOS Composites division will lease a facility in Dublin for the consolidation of their U.S. companies. INEOS plans to relocate their office presence to Grandview Yard and this project would be the relocation of INEOS’s lab within the City of Dublin.
The project is expected to result in retaining 48 jobs and creating six jobs within Dublin. The Economic Development Agreement is a five-year payroll performance withholding incentive of up to $107,000 as a result of an 18% Incentive Factor. The City also awarded a $50,000 location grant to offset fit-up costs.
“INEOS Composites is a recognized leader in the chemical and manufacturing industries. As the global economy evolves, they are realizing a growing demand for their products,” says Economic Development Administrator Jenna Goehring. “We’re proud of their success and excited about INEOS’s continued investment in Dublin.”
The performance incentive is contingent upon INEOS Composites providing documentation of a seven-year lease of a 60,000-square-foot facility within Dublin commencing by Oct. 31, 2023, and occupying the facility by March 31, 2025. The City anticipates collecting approximately $564,000 in net withholdings through 2028.
Council approved the EDA after a second reading at its meeting on Aug. 14, 2023.
About INEOS Composites
INEOS Composites manufactures and sells a broad range of general-purpose and high-performance grades of unsaturated polyester and vinyl ester resins, gelcoats and low-profile additives for the plastics industry.
The products of INEOS Composites provide fabricated composite products with an array of functional properties including corrosion resistance, fire retardance, ultraviolet resistance, water and chemical resistance, high mechanical properties, thermal and electrical insulation, impact and scratch resistance and high strength-to-weight ratios. INEOS Composites’ materials are used in several global markets, including building materials, corrosion-resistant FRP, recreation, transportation and wind energy. Learn more at https://www.ineos.com/businesses/ineos-enterprises/businesses/ineos-composites/.
About the City of Dublin, Ohio, USA
Dublin is a city of nearly 50,000 residents located just northwest of Columbus, Ohio. It offers residents and corporate citizens responsive services, attractive housing options, superior public education, direct regional highway access, abundant park space, thoughtful and strategic planning, innovative ideas and technology and a dynamic community life. Dublin is ranked the number one small city in Ohio and is consistently named one of the safest cities in the nation. It is home to more than 20 corporate headquarters, an entrepreneurial center, 4,300+ businesses, world-class events and the urban, walkable Bridge Street District. For more information, visit DublinOhioUSA.gov or call 614.410.4400.