Land Sale Approved for Therma-Tron-X Expansion

Sturgeon Bay – Therma-Tron-X (TTX) will have more room to expand in the industrial park following last week’s approval by the Sturgeon Bay Common Council of a purchase agreement, development agreement and option to purchase.

The company will buy 4.41 acres immediately south of the TTX manufacturing site for $132,300, or $30,000 per acre. The company will pay only $44,100 at the time of closing, which is to occur not more than six months following the execution of the agreement, within 10 days of filing an application for a building permit.

How much TTX pays of the remaining $88,200 balance at the three-year anniversary of the closing will be subject to incentives involving job and real estate investment credits. The agreement provides a $4,000 credit to offset the purchase price for every new full-time-equivalent job paying at least $15 an hour, excluding benefits. Another $4,000 credit would be awarded for every $100,000 in real estate improvements.

City Administrator Josh VanLieshout said TTX is now planning a plant expansion, with the option to purchase the land previously approved by the council in 2018.

Community Development Director Marty Olejniczak said a new building will be attached to TTX’s current building on property the company already owned, but the additional land is required to relocate parking and drive lanes for any additional potential expansion in the future.