Plans are underway for a major expansion and investment at Youngstown Tool & Die.

The company has prospered over the past 61 years and now it's preparing to expand from a regional supplier to a national supplier.

The company, which makes dyes for the aluminum extrusion business regionally, has 34 employees.

It plans to retain those employees and hire even more.

General Manager Dave Mrdjenovic said, "Phoenix International, an Italian firm, bought Youngstown Tool and Die in April. It has plans to invest $13 to $15 million in Youngstown for its Flagship facility in North America. We are hiring entry level folks without experience to go through training, and also folks who can hit the ground running."

The new 60,000 square feet facility is expected to be built in the Salt Springs Business Park.

Mrdjenovic added, "The company has plans to add as many as 57 more employees over 3 years." 

Phoenix International is seeking an abatement and grant for the facility.

The payroll is expected to increase from $2.5 million a year to $4 million a year.

The company has asked for a tax abatement and grant for the land.

The general manager tells 21 News that Phoenix International is the largest manufacturer of extrusion dyes in Europe.

Mrdjenovic added, "Outside of China they are the largest manufacturer in the world. A second expansion to increase production is also planned that will eventually increase the size of the facility to around 90,000 square feet."