Tuesday, May 21, 2013

'HeaterMeals' company relocating from Forest Park to Cincinnati, bringing 50 jobs

Cincinnati City Council on May 1 unanimously approved a Property Investment Reimbursement Agreement (PIRA) with Innotech Products, Ltd. to consolidate and move its company from Forest Park to Cincinnati, which will bring 50 new jobs to the City.

The company, a global leader in self-heating technology that's best known for producing HeaterMeals and its flameless ration heaters used in MREs for the U.S. Armed Forces, plans to rehabilitate a 253,000-square-foot building at 2940 Highland Avenue in Oakley into a new manufacturing, warehousing, and distribution facility.

The City will provide the company a total of up to $210,000 over the next seven years, with annual payments limited to 50 percent of the annual income tax revenue generated by the new jobs. Innotech's current payroll is approximately $2.8 million.

The jobs include positions in administration, sales, marketing, warehouse, and packaging.

"Continuing to help grow our neighborhood businesses provides a greater quality of life for the residents as well has helps in the recruitment of new businesses," Economic Development Director Odis Jones said in a prepared release. "We are glad that Innotech Products has decided to relocate their company to the City of Cincinnati."

The PIRA terms require the company to remain in the City for a minimum of 10 years.