Century Components takes over Holmes County tax deal

Mark Leininger, executive director of Holmes County Economic Development, has created dozens of enterprise zone agreements throughout his years serving Holmes County businesses seeking tax incentives to remain committed to operating within the borders of Holmes County and to growing their company.

The most recent endeavor within the enterprise zone agreement world was a bit of a twist.

Leininger met with the Holmes County Commissioners Feb. 23 to discuss the passing of a resolution approving the assignment of assumption of a former enterprise zone agreement.

According to Leininger, Holmes County entered into an enterprise zone agreement with Jacob & Levi’s and SC Terra Firma, Ltd in September 2019.

While Jacob & Levi’s has remained loyal to its EZ agreement, its owner Scott Troyer has expressed a desire to retire, and in doing so is seeking to transfer the ongoing tax incentives of the EZ agreement to Century Components, a company owned by Mark Miller that is located next to Jacob & Levi’s, located between Walnut Creek and Sugarcreek.

“Century Components owns the facility on the neighboring parcel, and they are growing and in need of space,” Leininger said. “They approached (Troyer) and asked about the facility and whether it might be available. It turns out it was fortuitous timing because Scott was ready to retire.”

The two companies worked out a deal in which Century Components will lease the Jacob & Levi’s facility for a period of four years with an option to purchase it.

According to Leininger, Century Components needs space to do millwork, which is the initial part of the company’s process of making cabinetry accessories. In doing so, it purchases raw lumber that is then processed into the various accessories.

According to Leininger, Century Components has doubled its number of employees over the past six years, and this move will allow it to continue growing.

"This is an example of when you have two businesses on neighboring properties, and there is a business owner who has reached the stage in life where he wants to throttle back,” Leininger said. “It has worked out because he took a risk in building that company, and the neighboring company is on an upward trajectory and can now move in and keep that momentum going.”

In assigning the assumption of the ongoing agreement, there will be no amendment of the original EZ agreement, and Century Components will assume the original logistics of the initial agreement with Jacob & Levi’s through its expiration date in 2029.

“Potentially, this could create even more jobs,” said Commissioner Dave Hall.

Leininger said Century Components will continue to file reports in lieu of Jacob & Levi’s.

In adopting the agreement, the commissioners have allowed it to continue as originally proposed, with Century Components now agreeing to report to the Tax Incentive Review Council meeting, with the next meeting slated to take place March 5.

The TIRC is represented by a county commissioner, the county auditor, and township and school district representation.

“It’s basically a panel comprised of representatives of all entities with an interest in the enterprise zone,” Leininger said.

In presenting the assignment of assumption, Leininger said the plan is for Jacob & Levi’s to phase out of production completely with that date in the works.

Leininger will notify the township trustees about the assignment of assumption.