Thursday, December 3, 2009

CRA agreement could aid in expansion of South Fairmount labs

Cincinnati City Council is considering the approval of a Community Reinvestment Area tax exemption agreement with MTK, Inc. for the expansion of Q Laboratories, Inc., a chemistry and microbiology product analysis and research firm located in South Fairmount.

The agreement would allow the company to construct a two-story, 9,000-square-foot building adjacent to its current headquarters at 1400 Harrison Avenue, nearly doubling its office and laboratory space.

In return for the 15-year, 75 percent exemption on the increased tax value of the property, MTK will retain 52 employees and create at least 12 additional jobs over the next three years.

Construction on the $1.6 million project is scheduled to be completed in fall 2010.

Founded in 1966, Q Laboratories serves mainly the food, cosmetic and pharmaceutical industries.

The company has been in South Fairmount since 1985 and, since 1997, has occupied the former offices of the Herancourt Brewing Company.