Shearer’s Foods — the company behind a statewide initiative known as Project Crispy — is a step closer to jumpstarting its new $100 million plant in Moraine after it successfully applied for federal New Markets Tax Credits.
Shearer’s Foods is a snack food manufacturer headquartered in Massillon. The company’s new facility is at the former General Motors plant on Stroop Road.
CityWide Development Corp., a local economic development nonprofit, announced the award in January. But the deal closed at the end of last year. The $12.5 million dollar tax credit secured an investment from PNC Bank, effective for seven years.
New Markets Tax Credits are a federal program of the U.S. treasury to incentivize private investment in low income areas.
Efforts to bring the Ohio-based snack food manufacturer to Moraine started in the Spring of 2024.
CityWide said the project should be fully operational by 2026. It’s expected to create 250 jobs.
The nonprofit supported the project because it can help make up for the loss of the former GM plant, CityWide Development Corporation CEO Dan Kane said.
“Once it's up and running, not only will there have been significant investment made by Shearer's and other investors, but there will be a good job-producing company that is located in our region,” Kane said.
The former GM plant is also home to Fuyao, which makes auto glass.
Public and private entities like JobsOhio and Dayton Development Coalition came together to bring Shearer’s Foods to the community, Moraine’s city manager Michael Davis said.
“It was about us collaboratively coming together to see how else we could secure them and attract them for a very long time commitment,” Davis said.
The plant isn’t operational yet as the company awaits additional tenant improvement approval, Davis said.
