That project’s size, scope and location are not yet available, according to Regional Economic Development Initiative (REDI) Cincinnati, touted as “the first point-of-contact for companies locating or growing in the 16-county region at the heart of Southwest Ohio, Northern Kentucky and Southeast Indiana.”
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“The REDI Cincinnati team continues to work with the city of Hamilton and Origin Venture to finalize details of the project,” Brandon Simmons, REDI Cincinnati’s vice president of project management, said when the credits were approved. “We look forward to sharing more about the company and its investment in the region when we have more information.”
The TCA also approved a 1.368 percent, eight-year Job Creation Tax Credit for Carvana, an online platform that enables users to trade, finance, buy, and sell used cars.
The Tempe, Arizona-based company’s project in the city of Trenton, an approximately 200,000-square-foot automotive processing facility at 5506 Kennel Road, is expected to create 400 full-time positions, generating $13.3 million in new annual payroll. No retail sales will take place on site.
Construction is expected to start this summer and wrap up by December 2021.
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The Butler County Board of Commissioners in May approved an Ohio Enterprise Zone Program Application, giving Carvana a 65 percent property tax exemption for seven years.
Also approved for southwest Ohio was a 1.520 percent, six-year Job Creation Tax Credit for Helium SEO, which provides internet marketing services. The Blue Ash-based company, as a result of its expansion project in that city, expects to create 120 full-time positions, generating $6.6 million in new annual payroll and retaining $1.7 million in existing payroll.
The three Southwest Ohio projects were among 17 approved last month by the TCA and announced by Ohio Gov. Mike DeWine and Lt. Governor Jon Husted. In all, the projects are set to create 1,943 new jobs and retain 2,247 jobs statewide. Collectively, they’re expected to result in more than $107 million in new payroll and spur more than $252 million in investments across Ohio.
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