If Widmer's Cleaners moves their carpet division headquarters to Oakley, they can expect tax relief from the City.
Under a Property Investment Reimbursement Agreement approved by Cincinnati City Council, Widmer's would receive a tax abatement for up to $250,000 in return for their renovations of and new equipment for the 60,000-square-foot building at 2950 Robertson Avenue.
The company would also bring 65 jobs into the City by relocating some of its employees from its Sharonville division.
Work is expected to be completed by the end of 2011.
The City estimates that the new jobs will bring in $27,480 in new annual income tax revenue, or $137,400 over the life of the agreement.
To take full advantage of the agreement, Widmer's would be required to create 118 new jobs over a period of ten years.
Widmer's Cleaners employs 217 citywide.
As part of the agreement, the company would make its best efforts to ensure that at least 75 percent of its new hires are Cincinnati residents.
The 65 jobs that could come to Oakley have an average hourly wage of $19.36 plus benefits.
Previous reading on BC:
Widmer's Cleaners may move 65 jobs to Oakley (6/3/08)
Wednesday, June 25, 2008
Widmer's tax abatement for Oakley move OK'd
