Lubrizol Corporation Expands in NEO
The Lubrizol Corporation announced a five-year $100 million expansion project at its Painesville Township facility to increase capacity and improve site infrastructure. The expansion, which is estimated to be complete by 2020, will support changing customer needs and position the manufacturing facility to be successful as a provider of key specialty products and services for Lubrizol now and into the future.
The chemical company’s expansion includes the addition of new manufacturing capacity, updated automated packaging capabilities, increasing of warehouse space, and improvement of staging and loading of truck shipments. The expansion will include state-of-the-art bulk transfer technology which is important to ensure product integrity, and is expected to reduce in-plant traffic and congestion. Additionally, it will improve the safety and efficiency of handling product drums and totes.
Through a collaborative effort with Lake County Port Authority, Painesville Township and Lake County Commissioners, Lubrizol obtained beneficial tax incentives, which were instrumental in the company’s decision to proceed with the expansion. Additionally, through a grant from JobsOhio and refundable job creation tax credits from the state, Lubrizol expects to add approximately 25 new jobs at the facility which currently employs more than 300 full-time employees.
Read the entire press release from Lubrizol