Township Lightens Taxes on Triumph Gear Systems to Create Jobs, Industry

With the aid of a $5.6-million industrial facility exemption certificate from the township, Triumph Gear Systems, a manufacturer and supplier of components for the aerospace industry, will be able to expand its operations and add eight new jobs in the next two years.

The certificate, more commonly known as a tax abatement, was approved by township trustees on Aug. 24.

By the terms of the certificate, Triumph Gear Systems will install new machinery, equipment and fixtures, to increase productivity and allow for the creation of eight new jobs within two years of installation. 

"A lot of industry left the state," said township Clerk Michael Koehs. "We've given these (IFEC's) out to encourage industry to return here."

The certificate, or tax abatement, will last for nine years.

Triumph Group, the parent of Triumph Gear Systems, reported its net sales for the first quarter for the 2012 fiscal year increased 108 percent, reflecting 13 percent growth.