Cornerstone Research Group Inc. is receiving Montgomery County and city incentives to move from Indian Ripple Road in Beavercreek Twp. while Miamisburg is proposing a tax credit for Buckeye EcoCare.
The Cornerstone jobs include an average annual salary of more than $80,0000, Miamisburg records show. Buckeye’s average about $45,000 a year.
“It’s new revenue for us,” Miamisburg Development Director Chris Fine said. “It’s business growth.
“Hopefully, it speaks to the rest of the business community that we’re a community worth doing business in if they’re looking for expansion opportunities,” he added. “We’re glad to have both of those companies here.”
A “housekeeping” measure going before council tonight, Fine said, will allow the city to accept $225,000 in county ED/GE funds to reimburse Cornerstone with moving expenses.
Fine said earlier Cornerstone plans to buy the United Grinding building, a 52,000 square foot facility on 5 acres on Earl Boulevard and expand operations. Later this year UG is expected to move to a larger, $13 million building it is constructing for its North American headquarters off Byers Road near the Austin Boulevard interchange of Interstate 75.
“They’re just out of space,” he said of Cornerstone.
“What they want to do is create and manufacturing environment where they can take some of these products that the develop and show the scalability of manufacturing and increase manufacturing,” Fine added.
Under the plan, the city is offering Cornerstone a 35 percent income tax credit for five years. The ED/GE funds are also part of the move, a $5.5 million investment for the company, records show.
In return, Cornerstone agrees to have at least 68 jobs and a $5.3 million annual payroll within three years, according to Miamisburg records.
But Miamisburg City Manager Keith Johnson said the company will likely surpass the 68 jobs.
Buckeye EcoCare, meanwhile, would build a facility in Byers Business Park just south of Belvo Road and move from its South Metro Parkway site, according to Miamisburg records.
That city is offering 30-percent, five-year job creation tax credit for the move, which would result in a 30,000 square foot site on land Buckeye would buy, Miamisburg records show.
Buckeye EcoCare would invest about $1.5 million in moving to the new site, which would be about 30 percent larger than its existing facility, records show.
“The current Centerville location serves as the company’s headquarters as well as the service location for their south Dayton and Cincinnati customers,” Miamisburg records show.
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