Thursday, June 28, 2012

Agreements to bring 120 jobs to Cincinnati

Cincinnati City Council last week approved a sale and development agreement, a Community Reinvestment Area (CRA) LEED tax exemption agreement, and a job creation tax credit agreement with Rough Brothers, Inc. – a move that will bring 100 jobs to the City immediately and an additional 20 within the next three years.

The City will sell 20.5 acres at 1140 E Regina Graeter Way in Bond Hill to the company for $1.34 million for the construction of a $4 million, 150,000-square-foot headquarters and manufacturing facility, built to U.S. Green Building Council LEED standards. The company will invest an additional $8 million in equipment.

The 15-year CRA LEED tax exemption will reduce the company's property tax liability by 75 percent over the life of the agreement. The six-year job creation tax credit agreement will provide the company with 45 percent relief on income tax liability for the new jobs it creates and will commit the company to stay in the City for a period of ten years.

Founded in 1932, the company designs, manufactures and installs engineered greenhouses and related environmental systems. Its current headquarters is in St. Bernard.