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Will Monroe Invest in UGN?

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    Posted: Apr 13 2018 at 10:41am


Ordinance No. 2018-05. An Ordinance authorizing a fifty percent net profits rebate, waiving a
portion of building fees, and extending the reduction in the water rate for UGN, Inc.
Mrs. Waggaman advised Council that two representatives from UGN were present along with Mrs.
Patterson if Council has any questions.

Mr. Hickman sought confirmation of the total amount of the abatement value of the profits being
over $1 million. Mrs. Patterson explained that it is difficult to estimate that because there are so
many things that offset the corporate net profits. As their profits grow our percentage grows, which
increases their incentive. Mrs. Patterson added that the additional water incentive is estimated at
$50,000 and the waived building fees would be approximately $16,000.

Mr. Clark moved to consider this the first reading of Ordinance No. 2018-05 and have it read by
title only; seconded by Mr. Frentzel. Voice vote. Motion carried.

Source: Monroe Council Minutes
Regular Meeting of Council
March 27, 2018 – 6:30 p.m.
233 South Main Street, Monroe, Ohio
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What is 'UGN'?
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UGN, Inc. was founded in 1986 as a partnership between Nihon Tokushu Toryo Co. Ltd., (Nittoku), and Autoneum Holding AG. We are the preferred producer of high-quality acoustic, interior trim, thermal management products, and a recognized leader in customer satisfaction for the Japanese transplant automotive industry in North America.
The privilege of a lifetime is being who you are.
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