Dayton Business Journal reported that ThyssenKrupp Bilstein of America Inc will get USD 500,000 from the state to add manufacturing capabilities in Butler County. ThyssenKrupp Bilstein of America Inc received the award from The Ohio Third Frontier Commission.
The money will help the company offset costs to locate its Real-time Damping Systems shock absorbers technology from its main plant in Germany to its facility in Hamilton.
ThyssenKrupp makes advanced automotive shock absorbers for original equipment automobile manufacturers, aftermarket outlets and motor sports. State officials said the shock absorbers have a special hydraulic connection, providing a more effective combination of driving comfort, performance and optimal vehicle stability for improved safety.
The company’s customers include Daimler AG, General Motors Co, Toyota Motor Corporation, Chrysler Group LLC, Ford Motor Co and Nissan Motor Co.
The USD 500,000 award was part of USD 10 million in Third Frontier awards made Tuesday across the state. The awards, part of the Targeted Industry Attraction Program, are contingent upon State Controlling Board approval.
Mr Jim Leftwich, director of the Ohio Department of Development and chairman of the Ohio Third Frontier Commission, said that "These investments nurture the innovative spirit of the state and will lead to technological breakthroughs and job creation. Supporting high tech projects is a key component of the Ohio Third Frontier’s mission to foster economic growth and innovation."