March 30, 2018 – When the ITW Welding Group moved its Troy, Ohio, Hobart Brothers manufacturing plant to a new site, the business was tasked with what to do with the property. Rather than simply transferring the property directly to the local economic development organization, ITW took responsibility for preparing the site for redevelopment.
Before demolishing the outdated facility, ITW conducted an environmental assessment of the site to ensure that no significant contamination existed. In partnership with the City of Troy, ITW agreed to work with the Troy Development Council (TDC) to redevelop the site, saving the city substantial transaction costs.
After a considerable amount of work to prepare the site, ITW and the TDC negotiated the sale of the property to the Kettering Health Network, which plans to build a three-story, nearly 100,000-square-foot hospital. With the help of ITW and its partners, Kettering is addressing the needs of the local community by expanding its health care service offerings. In 2017, this project was recognized by the Ohio Economic Development Association as one of the top three redevelopment projects in Ohio.
Acquired by ITW in 1996, the Hobart Brothers company has been a part of the Troy community for over 100 years, which made the decision to partner with the city and development council an easy one. In fact, the public/private partnership involved in this project was unprecedented in the State of Ohio, and it not only brought new jobs to the Troy community but also generated renewed interest and many new projects in downtown Troy.
“Troy is very proud to have the ITW Welding Group and the ITW Food Equipment Group in our City. Both divisions are very active participants in the Troy community, including providing many great employment opportunities and strong support for United Way and other local organizations,” said J.C. Wallace, president of the Troy Area Chamber of Commerce and CEO of the Troy Development Council. “This project really demonstrated ITW’s corporate and local commitment to the long-term health and welfare of their employees, their families and the citizens of the Troy area. We are extremely grateful for the years of work and the investment that ITW put into making this downtown redevelopment project a reality!”