Cincinnati Ohio Economic Development

The expansion and relocation project by Omnicare Inc. won tax-incentive packages from the Ohio Tax Credit Authority

Business Courier
Expansion and relocation projects by Omnicare Inc., Procter & Gamble and Proteus Solutions won tax-incentive packages from the Ohio Tax Credit Authority.

Omnicare Inc. received a 75 percent, 10-year tax credit to relocate its operations from Covington to downtown Cincinnati. A spokesman for the Ohio Department of Development was unable to provide the dollar amount of the tax-incentive, but when the move was announced it was estimated at $5 million. Omnicare is creating 343 full-time jobs in Cincinnati, with an estimated annual payroll of $25.6 million. It must maintain operations in the city for at least 13 years, according to documents from the state. The tax credit beings in January 2012.

The authority also approved a 45 percent, six-year tax credit to P&G Manufacturing Co. to expand operations in Bath Township, Allen Township. The company is creating 48 jobs that will generate $2.8 million in annual payroll. The company also agreed to retain $34.2 million in existing payroll at the site for the term of the credit. This credit, for which the dollar amount was not available, also begins in January 2012.

And finally, Proteus Solutions LLC won a 35 percent, six-year tax credit to open a new location in the city of Reading. The company will create 20 jobs, generating $800,000 in annual payroll within three years of opening. Proteus Solutions is a commercial cleaning and sanitizing joint venture of Diversey Inc. , and Standard Textile.

Read the Business Courier article here.