Tuesday, August 10, 2010

Incentives keep company in Cincinnati

Two tax incentive packages will ensure that a Cincinnati company stays put – and has the room it needs to expand.

Cincinnati City Council has approved unanimously two ordinances authorizing a Community Reinvestment Area (CRA) LEED tax exemption agreement and a job creation and tax credit agreement with Links Unlimited, Inc. for a new 70,000-square-foot office and warehouse facility, to be built at 1460 Seymour Avenue in Bond Hill.

The $3.5 million project will allow the 29-employee firm to relocate from its 12,000-square-foot facility on W Seventh Street in Queensgate, which it has outgrown. The incentives also will pay for capital expenditures on new equipment, environmental remediation, and moving expenses.

The fifteen-year CRA LEED tax exemption will provide a 75 percent reduction in the company's real property tax liability.

The eight-year job creation tax credit is equal to 50 percent of all new income tax revenues from new positions created. In April, the State of Ohio Tax Credit Authority approved a five-year, 45 percent job creation tax credit.

Miller Valentine Group will construct the new building, which will be completed by April 2011.

Established in 1996, Links Unlimited is a promotional incentive company focusing on sporting goods, electronics, and apparel that represents more than 200 manufacturers.