Italy-Based Modula Will Invest $26.5 Million in Dayton Daily News Building
Dayton region’s location, industrial strength and economic development partnerships draw investment
Company Name: Modula Inc.
Industry Sector: Advanced Manufacturing
Company Profile: Started in 1987, Modula is an Italian company that designs and manufactures automatic vertical warehouses, also known as vertical lift modules, which are suitable for any industrial sector or environment. Modula is also the name of its products, which are used to store various types of other products. Modula supports more than 15,000 customers around the world.
Company Website: https://www.modula.us
Type of Project: New location
Capital Investment: $26.5 million
Timetable: The company connected with REDI Cincinnati in September of 2018, followed by several site visits. By February 2019, company representatives visited the potential site, and the company made an offer.
Modula is an Italy-based company that sought to expand its presence in the U.S. The company experienced major growth worldwide over the last five years, and the pace is not slowing down.
Modula wanted to establish a second manufacturing facility in the U.S, which would be responsible for making vertical storage systems and kitting electrical and mechanical systems.
The company desired to be closer to customers and needed a facility to handle both its immediate manufacturing needs and its future growth.
Modula will invest $26.5 million in the historic Dayton Daily News building and has committed to create 100 jobs. The company chose Ohio – and particularly the Cincinnati region – because of its proximity to customers, its advanced manufacturing sector, and the professionalism of JobsOhio and REDI Cincinnati, who helped the company throughout the process.
Following several site visits, the Dayton Daily News building is what kept the company interested. The unique building encompasses every aspect of the company’s vision for its expansion. Areas of the building with 50-foot ceilings will allow Modula to use this location as a showroom for customers, and the square footage provides the company with enough capacity to grow in the future. Additionally, the company will now have easy access to its customers, and the region’s transportation infrastructure can support the company’s delivery of products.
“Modula is facing impressive growth worldwide at a pace of almost 25 percent year-over-year in the last five years, and particularly in the North American market, we faced a further acceleration in the last two years. After an accurate analysis, we chose Ohio and particularly the Cincinnati area because of the excellent position, the great industrial presence and the high professionalism of JobsOhio and REDI Cincinnati, who helped us in the whole process. We are sure that Modula will have a positive impact in the local community of Franklin, and we are excited to start our new adventure there.”
- Antonio Pagano, chief executive officer, Modula USA
JobsOhio, REDI Cincinnati, Warren County Port Authority, city of Franklin, Colliers International