| Issue 1, Vol. 4 | April 2012 |
Greetings!
The City Manager's Economic Development Division is Growing!
EDD merged with Neighborhood Business Development
Our business communities spoke and we listened! Improvements in communications and consistent messaging between internal and external customers of Economic Development Division (EDD) will be experienced as the assimilation of Business Development into EDD transpires. We look forward to streamlining our processes to better serve our neighborhood business districts and central business district communities and look forward to hearing from you on how we're doing as the year unfolds.
On March 16th, personnel from EDD moved from City Hall to EDD's "new home" on the 7th Floor of Two Centennial Plaza at 805 Central Avenue. The Economic Development Division is now comprised of 16 development and administrative professionals and will soon be joined by a permanent Director, Odis Jones, on April 22,2012. (More to come on that later!)
2012 is an exciting time as significant construction and job growth for numerous projects come on-line. Be sure to stay in-the-know of all the development projects going on in the City by viewing the City of Cincinnati EDD website at: www.choosecincy.com!
Until next time...
William Fischer
Interim Director
Economic Development Division
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dunnhumbyUSA Expands Once Again
| dunnhumbyUSA, a global leader in building brand value for consumer goods and retail companies, welcomed Ohio Governor John R. Kasich and JobsOhio President and Interim Chief Investment Officer Mark Kvamme, to its headquarters at 444 W. 3rd St., Downtown for their official announcement of State Job Creation Tax Credits. The Ohio Jobs Creation Tax Credit Authority approved the extension of job creation tax credits, increasing the term from ten to fifteen years, and from 500 to 1,000 jobs.
dunnhumbyUSA announced earlier this year its intent to build its future U.S. headquarters at the currently vacant corner of Fifth and Race Streets. The company is working with The City of Cincinnati, and 3CDC to formalize details towards redeveloping the site, which will include an office building, parking garage, additional commercial space and retail. dunnhumby's current 111,000 square feet state-of-the-art headquarters at 444 W. 3rd St. and its supporting parking lots are located in the right of way of the Brent Spence Bridge reconstruction project, which prompted the Company's search for a new U.S. headquarters. The Company's future headquarters will encompass multiple floors at Fifth & Race, spanning 250,000 square feet. dunnhumbyUSA has over 520 employees today, with plans to add 550 professional jobs. The Company is a joint venture partnership with The Kroger Co.
 | | Mayor Mark Mallory and Governor John Kasich enjoying dunnhumbyUSA expansion news |
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Odis Jones Named New City of Cincinnati Economic Development Director
| Cincinnati City Manager Milton Dohoney announced that Odis Jones will join the Administration as the City of Cincinnati's new Director of Economic Development, effective April 22, 2012.
Mr. Jones is presently the Director of Urban Development for the New Jersey Economic Development Authority. He has worked under two state administrations to drive investment and development in the urban areas throughout the state of New Jersey.
His background includes serving as President and CEO of the Columbus Urban Growth Corporation, a citywide public-private entity that handled economic development for the city.
 | | Odis Jones will join the Administration as the City of Cincinnati's new Director of Economic Development |
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Christ Hospital Expands into LEED Office Space
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Taft Offices, LLC will invest an estimated $3,000,000 to renovate property including approximately 165,000 square feet of an existing professional office building at 217 and 237 William Howard Taft and construct 44,000 square feet of improved office space to LEED standards, 25,000 square feet of dedicated storage space, and approximately 700 parking spaces. Taft Offices, LLC received a LEED-CRA abatement with an estimated City portion value of abated real estate taxes on the improvements of $11,982 per year or $143,788 over the life of the term. Further, with the exception of a small amount of space occupied by the Tuberculosis Center, this was an otherwise vacant facility that will once again be put into productive use for the neighborhood.
The primary tenant, The Christ Hospital, will occupy 126,000 square feet pursuant to a 14-year lease agreement and create fifty new jobs by 2015. Hamilton County will also lease approximately 13,000 square feet for the Tuberculosis Center.
 | | Taft Offices, LLC located at 237 William Howard Taft |
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Nielsen Relocates 500 Employees to Cincinnati
| Nielsen has completed its relocation of about 500 employees from Covington, Ky to downtown Cincinnati.
The global market research company moved into the Chiquita Center at 250 E. Fifth St. The Business Courier broke the story about Nielsen's plans to move across the Ohio River from the RiverCenter complex in September.
"The Cincinnati area is strategically important to Nielsen," Mitchell Habib, Chief Operating Officer of Nielsen (NYSE: NLSN), said in a news release. "Greater Cincinnati is a world class business marketplace, offering tremendous opportunity and a great workforce. It's why Nielsen has enjoyed a presence here for 25 years. Nielsen is thrilled to remain in the Cincinnati area and we look forward to serving some of our major clients from our new downtown location."
 | | Nielsen's signage in front of 250 E. Fifth Street |
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Cincinnati USA Ranks Sixth in Nation for Business Expansion in 2011
| Site Selection magazine ranked Cincinnati USA sixth in the country in a list detailing the top large-metro areas in the U.S. for new and expanded corporate facilities in 2011.
This is Cincinnati USA's tenth consecutive year to be ranked in Site Selection's top 10. Over this span, the region has produced more than 2,100 projects creating more than 86,000 new jobs and a total of $17.6 billion in new investment.
The Site Selection ranking, which focuses on areas with a population of one million or more, is based on primary research conducted by Site Selection and MSA-wide data submitted by the Cincinnati USA Partnership, the economic development initiative directed by the Cincinnati USA Regional Chamber.
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Kennedy Heights Cultural Center
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The former Kroger grocery store located at 6620 Montgomery Road will be redeveloped in collaboration with the Kennedy Heights Development Corporation, Kennedy Heights Arts Center, Cincinnati Art Museum, and the Kennedy Heights Montessori Center to create the "Kennedy Heights Cultural Center". Each of the project partners have agreed (in principal) to joint-ownership of the cultural center and would operate under a condominium arrangement.
The Kennedy Heights Arts Center will open a theater and studios in its space, while
the Cincinnati Art Museum will display a collection of art that is currently on display in Columbus, Ohio and the Kennedy Heights Montessori School will use the building for its permanent location.
Prior to this joint venture the former grocery store has been vacant since 2002 and was being used by Cincinnati Public Schools for storage.
The total development costs for the Cultural Center are currently estimated at approximately $3 million.
 | | Rendering of the Kennedy Heights Cultural Center |
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| Did you know? | |
Ohio is the 7th-most populous state
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| Contact Us |
City of Cincinnati Economic Development Two Centennial Plaza 805 Central Avenue Suite 710 Cincinnati, Ohio 45202 Phone: (513) 352-2499 Fax: (513) 352-6124 www.choosecincy.comE-mail Us
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