DAYTON, Ohio (WDTN) - A company has decided not to bring its operations and the more than 400 jobs that could come with them to Dayton.
"We were quite disappointed," says Timothy Downs, Dayton's Deputy Director of Economic Development.
The Process Equipment Company or PECo agreed in April to move its 181 jobs to a former factory at 2333 McCall Street with plans to add 250 more.
But 2 NEWS has learned a few months later the company used its option to end the deal.
2 NEWS obtained a copy of the company's letter to the city.
In it PECo says, "the cost to renovate/relocate and required time frame greatly exceed initial estimates."
Downs tells us after getting the letter the city reached out to PECo, offering more money for repairs and the option to lease the building but the decision had been made.
"I think the answer is a solid no but we made the plea to reconsider," Downs says.
PECo had been offered grant money to move.
When we asked Downs he told us the company won't get any of that now, so taxpayers aren't out anything.
"There was nothing advanced to PECo," Downs says.
But the city is still left with a building in need of repair before anyone else can move in.
"Many of those costs were due to the fact the property's been vandalized," Downs says.
Downs says the city will reconsider how it's marketing the McCall Street building.
Demolishing is an option, but for now Downs thinks with repairs a company can be convinced to move there.
"We're going to push it hard," Downs says. "We feel development there is important for that part of town and we hope somebody else will come along who feels the same way."
In an email, PECo's owner tells 2 NEWS the company is still looking to expand and will continue to search for a building like the McCall site where it could consolidate all its operations.
Currently, the company is spread over four sites in the Tipp City and Huber Heights areas.
It specializes in making machining equipment for other industries.
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