Termax Expansion, Annexation Fee Waiver Approved

Termax Corp. got what its owners asked for, a $5,000 annexation fee for a 37,000-square-foot expansion at 1155 Rose Rd. The Village Board granted unanimous approval to the request at its meeting last week.

The manufacturing and engineering company, specializing in metal and plastic fastener solutions, will use the annexed 5-acre parcel to expand its operations and create as many as 50 new full-time jobs, said William R. Smith, co-owner with his brother Michael W. Smith. 

The Smiths originally requested the waiver and annexation at a courtesy review in January.  The village normally charges $1,000 per acre in annexation fees.

The financial benefits of having the company remain in the village were highlighted as justification for approving the waiver request.

“Estimated property taxes based on the expansion will exceed $62,000, with more than $5,000 going directly to the village,” said Rich Sustich, trustee.

“An additional $3,340 will help to fund public safety pensions; the company itself will be contributing substantially to the village in many other ways,” Sustich added.

Of the 197 current Termax employees, 127 live within 10 miles of Lake Zurich.

“Termax brings in people from our area to work here and that helps to support the village in many ways,” said Dan Peterson, director of building and zoning.

The expansion plans also address parking issues due to positive growth, Peterson added.

Currently, there are three shifts at the facility and during shift change, some employees are forced to park along Rose Road. The expansion will allow for 66 additional parking spaces so there is ample parking for the work force.

Rezoning of the property to a Limited Industrial District (I1) also was approved by the board.

Termax makes small metal and plastic parts that hold automobiles together.

“Most of the vehicles made in North America have our parts in them,” said William R. Smith. “We are grateful that the village was willing to work with us and we look forward to growing our future business here.”

All plans pertaining to the expansion, including rezoning and site and exterior appearance plans were unanimously approved by the plan commission and zoning board of appeals on March 16 and March 17, respectively. 

The value of the five-plus acres being purchased by Termax is estimated at $653,400, and the new building construction is projected to be worth around $2.5 million.

“I’ve been a Lake Zurich resident for about 27 years, and I’ve seen everything grow up here,” said Michael W. Smith, co-owner.  

“When you’ve lived here and you see that you are part of a village and contributing to its growth, it’s a pretty nice feeling, said Michael W. Smith. 

The business moved to Lake Zurich close to eight years ago after outgrowing their location in Schaumburg.  Prior to that, the business started out in Rolling Meadows and was started by the Smith's father, said William R. Smith.  

“We are just happy to have Termax moving forward with the annexation and expansion,” said Peterson.

The expansion plan will more than double the current lot size from 4.75 acres to 9.7 acres. 

The project is expected to begin May 1 and be completed by the beginning of September.  If all goes according to plan, the business will be able to move in to the expanded location by October of this year, said William R. Smith.

“It is good to feel like you are home and to be part of a village like this,” added Michael W. Smith.