Auto parts supplier expanding with Fairfield deal
Tuesday, May 13, 2008
FAIRFIELD — Parts of the new Toyota Highlander will be stamped in Fairfield beginning in 2009, when a 120,000-square-foot facility is built for automotive parts supplier Takumi Stamping.
The Fairfield City Council's approval Monday night, May 12, of a 10-year, 75 percent abatement paves the way for the new building for the Fairfield-based auto parts supplier exclusively for Toyota.
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Takumi was recently notified of the increased need by Toyota, said Koji Suzuki, the company's sales general manager.
"There is a need to start production quickly," he said. "We need a new building built at the beginning of next year."
Construction of the new building on a vacant parcel on Seward Road near Symmes Road will take about six months, Suzuki said.
Suzuki said the various parts of the new Highlander will be stamped and shipped to Toyota's assembly plant in Mississippi.
The abatement will save the company about $38,000 a year over the life if the abatement. The Fairfield City School District will be compensated $12,000 during the term of the abatement. Because of the abatement, the company will add 25 new jobs full-time jobs over five years to its base of 300. Total payroll is estimated to be more than $8.7 million.
The company will retain its current facility at 8945 Seward Road, which is near Commerce Center Drive.
Realtor Joe Kramer of Henkle Schueler Associates represented the company in the land transaction, and said company officials needed city officials to act fast.
"The project had one foot on one site out of the city," Kramer said. "In large reason due to your staff's reaction, (the project) was able to happen (in Fairfield) and allowed this company to expand quickly."
Suzuki said the company will eventually need to expand again because it will add welding and shipping aspects to its business.
