Topre America $21 Million Expansion Comes To Cullman
Topre America Corporation will continue to invest heavily in the Cullman community.
Topre America Corporation is poised to embark on a massive $21,000,000+ expansion project at their County Road 222 facility.
The project includes the following:
• A new, 42,500 square foot building
• A new Hot Stamp Press Line
• 54 new job with an average annual salary of $52,000+
• Total Investment In Cullman = $21,236,691
Established in 1935, Topre America Corporation has been advancing their core technology processes ever since. They are considered a worldwide leader in metal press forming technology and die design technology for automobiles, temperature controlled logistics, air conditioning systems, and electronic equipment.
Their Cullman automobile equipment factory was completed in June of 2004.
Dale Greer, the soon-to-be Director of the Cullman Economic Development Agency (CEDA), appeared before the Cullman County Commission this week working to secure a tax abatement on behalf of Topre America.
He presented a compelling case for the tax abatement proposal citing the profound positive effect of Topre America’s high velocity support of Cullman’s nationally prominent, sustained economic growth:
“Topre America committed to Alabama an investment of $200 million and 300 jobs when they came to Cullman. They now have invested $600 million, and their employee count is at 600. They are also a major partner in the ongoing growth of Cullman through their charitable contributions and significant funding input to our educational systems through their remittance of tax dollars.
People ask me about tax abatements all the time. They seem to think these abatements are corporate welfare with the community giving away tax revenue for no reason. That is NOT the case.
As an example, in this instance with Topre, they do NOT have to proceed with this expansion in Cullman. They have facilities in Missippi, Ohio, and Tennessee where they could do the same thing. This expansion is a new investment – new money, new jobs & new commerce – coming into Cullman and it will deliver approximately $644,344 into the educational system in Cullman over the 10-year term of the abatement.
Topre America has been a loyal business citizen to Cullman. A tax abatement facilitating and rewarding their expansion plans locally is a smart business action for the community.”
Associate Commissioners Kerry Watson and Garry Marchman unanimously approved the full tax abatement with the support of Cullman County Commission Chairman Kenneth Walker.
Stanley Kennedy of CEDA has done the hard math on the abatement. This action will save Topre $1,046,901 over the 10-year term of the agreement. With $2,808,000 in new employment income to Cullman residents, the $644,000 going to the school systems and the incalculable economic ancillary benefits to the community as a result of the abatement delivers a win-win partnership for all parties involved.
From a local perspective, securing the Topre America’s expansion in Cullman certainly beats the unappetizing alternative of new money and economic growth disappearing into distant locales with Cullman getting nothing.
Topre America Corporation