BUCYRUS—By a unanimous vote, Bucyrus City Council voted this evening to approve the Community
Reinvestment Area tax exemption for the new Bucyrus Storage Complex project at 1850 Marion Road. As a result, Ohio investor Jim Manos officially announces he will be moving forward with the warehouse and storage project that he has been working on for the last several months.
“I am very pleased to invest in this great community and put an empty building to work,” said Manos. “The community is on the rise. The city has been very supportive, and the Crawford Partnership has provided a lot of assistance.”
The Bucyrus Storage Complex project is the fourth similar investment in Ohio by Manos. The complex will offer both climate and non-climate-controlled units and outdoor storage. The site will be fenced-in, have ample lighting, and round-the-clock surveillance. Over the course of one year, the business will hire three part-time employees to run the day-to-day operations.
In 2004, the City made the entire city of Bucyrus a Community Reinvestment Area (CRA) which enables it to grant tax exemptions to stimulate new residential, commercial, and industrial development. This is the first new development to be supported by the program since 2019.
The Bucyrus Storage Complex will receive a fifty percent tax exemption on the renovations and new construction for the next ten years.
Bucyrus Mayor Jeff Reser thanked Manos and City Council following the announcement, saying “Despite the challenges of the past few years, we are seeing new businesses and investment into Bucyrus, with more on the way. I appreciate Jim Manos for committing to Bucyrus and City Council for committing to create a pro-business environment that will strengthen our community. Every project moves us forward.”