April 29, 2014
REDI assists with tax credits, brings up to 1,769 jobs here
REDI Cincinnati, the region’s leading economic development initiative, yesterday announced the advancement of six regional projects that have the potential to add or retain a total of 1,769 jobs in Southwest Ohio.
The announcement follows the Ohio Tax Credit Authority’s review and approval of the six economic development assistance proposals presented to the board by JobsOhio and REDI Cincinnati. Those projects included Ohio National Financial Services, Inc., AdvancePierre Foods, Inc., Kenworth of Cincinnati, Process Plus Holdings Inc., UGN, Inc., and Interstate Warehousing of Ohio, LLC. Together, the projects mean at least 551 new jobs, retain 1,218 more, and more than $48,000,000 in capital investments in Hamilton, Warren and Butler counties.
“Whether it’s these six businesses looking to grow here, the recent GE announcement that includes 1,400 new jobs in Greater Cincinnati, or the fact that our area unemployment numbers are back to pre-recession levels, our region’s story shows we can compete with anyone in the country,” said Johnna Reeder, incoming President & CEO, REDI Cincinnati. “These projects represent not only the opportunity for significant investment in the region, but our success in retaining and expanding a diverse and established group of businesses. Our businesses have staying power, and that creates jobs for the long term,” Reeder added.
The largest Greater Cincinnati project in terms of new job commitments to receive approval by TCA was for a planned expansion by Ohio National Financial Services. The project is expected to create 270 new jobs and retain 933 other positions (1,203 total) at its current facility in the city of Montgomery. The project could see capital investment of $7.6M and will support the company’s continued growth with a roadwork project that will alleviate traffic congestion near the company’s headquarters at Interstate 71 and Pfeiffer Road.
“We at Ohio National are very pleased to be part of this regional and state-wide effort that is helping us grow our business in a significant way and provide additional opportunities for our talented and skilled associates," said Gary T. "Doc" Huffman, Chairman, President and Chief Executive Officer. "For more than 100 years, we have been an important part of Cincinnati. We have never been more confident about the future of our company, community and industry than we are today."
A look at the other five projects that received tax credit approval yesterday:
- AdvancePierre Foods, Inc., City of Blue Ash, Butler County, 43 new jobs, 59 retained jobs, $1.8M capital investment. A leading supplier of convenience products to the foodservice industry, the company produces and distributes and packages sandwiches, chicken and beef products. The company plans to relocate their national headquarter employees from Edmond, Oklahoma to Blue Ash.
- Kenworth of Cincinnati, City of Sharonville, Hamilton County, 40 new jobs, 40 retained jobs, $3.6M capital investment. A division of The Palmer Truck Group, Kenworth of Cincinnati provides service and solutions to the transportation and logistics industry. Due to capacity and site issues at their existing facility, the company must relocate. Kenworth will soon break ground on a new facility in the City of Sharonville which will alleviate site concerns and allow for future growth.
- Process Plus Holdings, Inc., City of Forest Park, Hamilton County, 25 new jobs, $800,000 capital investment. A nationally-recognized engineering and architecture firm, they specialize in the chemical, pharmaceutical and food and beverage industry. The company’s client and market growth are requiring them to hire more employees, and although they will maintain their current footprint and employees in the City of Forest Park, they also will expand into to-be-determined new location.
- UGN Inc., City of Monroe, Warren County, 148 new jobs, $30M capital investment. A preferred producer of high-quality automobile acoustics, carpeting and trim, UGN will soon break ground on their first Ohio manufacturing site in the City of Monroe.
- Interstate Warehousing of Ohio, LLC, City of Hamilton, Butler County, 25 new jobs, 186 retained jobs, $3.4M capital investment. One of the leading cold storage warehousing companies in the U.S., the company is growing due to a new, large and as-of-yet undisclosed client. A roadway project will allow for an anticipated increase in truckloads allowing them to expand at their current site.
Yesterday's announcement comes on the heels of the recent announcement by JobsOhio, Ohio Governor John Kasich and REDI Cincinnati regarding General Electric’s decision to bring its U.S. Global Operations Center to the Cincinnati region, creating at least 1,400 additional new jobs.