Press "Enter" to skip to content

Posts published by “Amnon J. Jobi | Amnon Front Page”

The Unusual Take on Global News. For feedback write to Amnon J. Jobi - editor [at] amnonfreepress.com.

Schneider Electric planning $25M in improvements; adding 100 jobs to its Fairfield plant

A Fortune Global 500 company plans to retool its business and add jobs to its Fairfield facility on Union Centre Boulevard.

France-headquartered Schneider Electric intends to invest $9 million in building improvements along with $16 million in machinery and equipment. Those improvements will allow the energy management and automation company to expand its workforce from 169 to 269.

In response to some changes in technology and consumer markets, Schneider has approached the city about making a substantial investment in the facility, said Nathaniel Kaelin, the citys economic development manager.

Were very excited to see a major Global 500 company thats doubling down in Fairfield, adding 100 jobs, increasing the wages of the existing employees.

Schneider has been leasing its 225,000-square-foot facility since 2018. The annual payroll is about $9.25 million annually. With the additional employees, payroll is expected to exceed $15 million.

Fairfield collects a 1.5 percent annual income tax from those who work or live in the city.

We love to see existing companies continue to grow here in Fairfield both in workforce and payroll, but also in technology and worker skillset, Kaelin said.

Fairfield City Council on Monday approved its first Job Creation Incentive Grant Economic Development agreement with Schneider. The grant program was established by the council a year ago.

We did compete (for) this project with other communities, Kaelin said. Im really pleased that they decided to do the project here in Fairfield, double down and continue to grow.

Under the agreement, the city will provide an annual grant of up to 36 percent of the new income tax collected from the increased payroll tax at the site for eight years.

As part of the program, Schneider agreed to extend the lease of its facility by 10 years and must create 100 jobs within three years of completion of the building improvements and machinery/equipment installation. Those improvements should be completed by the end of 2025.

The city estimated it could pay out $280,295 in annual grants ranging from $13,195 to $40,801 over the eight-year agreement.

I brag weve not raised our income tax of 1.5 percent since 1955 and its because of developments like this that are funding these good quality of life things in our city and keep it sustainable, said Mayor Mitch Rhodus.

Commentary: DOGE’s Greatest Christmas Gift Is the Disassembly of the Government Mindset