With Cincinnati Bell and GE Global Ops which is still undecided we could be getting more than 2,000 new jobs In the Business District this could be a GIANT!!!!!!!!! year for downtown!!!!!!!!!!!!!!

http://m.bizjournals.com/cincinnati/news/2014/06/09/here-s-where-cincinnati-bell-will-move-600-jobs.html

^  There's certainly a degree of "poetic justice" here--since not long ago Paycor (and some 500 jobs) moved from Queensgate to Norwood.    :clap: 

Cincinnati Bell moved out of that location to go to Norwood to get tax breaks and is now returning to downtown Cincinnati to get tax breaks.  Seems like the biggest winner here is Cincinnati Bell and the biggest losers are local taxpayers.

Cincinnati Bell moved out of that location to go to Norwood to get tax breaks and is now returning to downtown Cincinnati to get tax breaks.  Seems like the biggest winner here is Cincinnati Bell and the biggest losers are local taxpayers.

 

Nailed it.

After selling its wireless business to Verizon a month or so ago I think Cincinnati Bell will be much more stable and consolidating its workforce into a central location is another good step for them. I don't expect to see any more moves from them unless there is a merger or acquisition.

It is still a big positive for downtown.  I am not sure what types of jobs they are, or how high paying?  Either way, Cincinnati Bell gets 80% of their income tax generated back to them for 10 years, and must stay downtown for 15 years.  It is a net gain for downtown and Cincinnati.  20% of their income tax, increased revenues downtown with people buying lunch, other items.  Also, increasing the liveliness, foot traffic, making it more attractive to even more development.  It is a good haul for downtown, for certain.

I agree I have noticed that restaurants at The Banks feed off of the Atrium Complex and The Great American Tower in particular for lunch so it's good for them.

Corporate welfare at its best. Again.

Cincinnati Bell moved out of that location to go to Norwood to get tax breaks and is now returning to downtown Cincinnati to get tax breaks.  Seems like the biggest winner here is Cincinnati Bell and the biggest losers are local taxpayers.

 

The company is getting a rebate on taxes that its employees pay.  So essentially the employees are returning about 2% of their salaries to the company. 

 

Cincinnati Bell moved out of that location to go to Norwood to get tax breaks and is now returning to downtown Cincinnati to get tax breaks.  Seems like the biggest winner here is Cincinnati Bell and the biggest losers are local taxpayers.

 

Same deal with a couple of Rivercenter Tenants that moved back downtown recently.

^  There's certainly a degree of "poetic justice" here--since not long ago Paycor (and some 500 jobs) moved from Queensgate to Norwood.    :clap: 

 

Cranley's law firm helped Norwood steal ~500 jobs from Cincinnati, and Cranley as Mayor is stealing ~500 jobs back. As bfwissel noted, both of these companies are getting tax breaks while NO new jobs have actually been created, and both cities are missing out on tax revenue that they desperately need.

It's especially stupid when it's a company that can't leave the region. Is Cincinnati Bell going to move to Charlotte?

If anything it could put the suburbs in a bind when they lose the company they gained through incentives and have them re-stolen. Cincinnati can absorb the losses better than West chester or Mason. It may make them rethink what they have been doing.

It would be nice if the regional municipalities would enter into an agreement to cap incentives for relocated jobs in the metro region.

^  There's certainly a degree of "poetic justice" here--since not long ago Paycor (and some 500 jobs) moved from Queensgate to Norwood.    :clap: 

 

Cranley's law firm helped Norwood steal ~500 jobs from Cincinnati, and Cranley as Mayor is stealing ~500 jobs back. As bfwissel noted, both of these companies are getting tax breaks while NO new jobs have actually been created, and both cities are missing out on tax revenue that they desperately need.

 

The argument that these employees will generate income indirectly through purchases at restaurants, stores, etc., is a weak one because what's going on is incredibly unfair to small businesses.  The tax benefits and government-backed loans available to small businesses are very difficult to actually get (the woman-owned and minority status alone is a ridiculously long process) and sometimes not worth the hassle if one has to alter their business or workflow significantly to qualify.  But these corporations, with their staff lawyers and political relationships, are able to customize their tax benefits and hold them as a bargaining chip. 

 

How many people get to leave for lunch with today's 30 minute lunches? You're lucky to get your lame Tupperware thing full of mayo-covered cold stuff open and choked down in time; let alone leave the premises.

Sterling Cut Glass closing retail store, building new HQ

Sterling is going to close it's Kenwood Towne Centre store & go to online sales only from a brand new facility.

Did catalog work for these guys & always liked their store in Obryonville.

http://www.bizjournals.com/cincinnati/news/2014/06/17/sterling-cut-glass-closing-retail-store-building.html

How many people get to leave for lunch with today's 30 minute lunches? You're lucky to get your lame Tupperware thing full of mayo-covered cold stuff open and choked down in time; let alone leave the premises.

 

Downtown? I believe a lot of people take an hour.

I've never worked in DT Cincinnati. In other Northern cities I've seen a lot of 30 minute ones. I have noticed that Cincinnati does take it a little easier as compared to other Northern cities.

GE selects The Banks for new operations center

Kara Foxx,  Jun 18, 2014

 

Sources tell FOX19 Investigates that General Electric has selected The Banks as the location for their new global operations center.

 

Mason and Oakley were also vying to be the location, but sources say negotiations between The Banks officials and GE were settled on Wednesday. The official announcement is set to be made on Friday.

 

The headquarters could bring in 1,400 plus jobs to the area.

Read More

The Cincinnati metro gained 27,000 jobs since January.

http://www.bls.gov/eag/eag.oh_cincinnati_msa.htm

^ Any idea how many jobs both Cleveland and Columbus gained during this same time period?

The Cleveland metro gained 22,700 jobs since January.

http://www.bls.gov/eag/eag.oh_cleveland_msa.htm

 

The Columbus metro gained 12,700 jobs since January.

http://www.bls.gov/eag/eag.oh_columbus_msa.htm

 

The Charlotte metro gained 8000 jobs since January.

 

http://www.bls.gov/eag/eag.nc_charlotte_msa.htm

The Cinti area has 50,560 foreign owned companies , up from 28,320 in 1991.

The top five industries that house these jobs locally are motor vehicle parts, basic chemicals, general purpose machinery, health and personal care stores, and machinery wholesalers. The owners of those firms are predominantly based in Japan (21.2 percent), Germany (14.4 percent), England (10.3 percent), France (8.7 percent) and Switzerland (6.1 percent).

 

http://www.bizjournals.com/cincinnati/news/2014/06/23/heres-how-many-jobs-foreign-companies-have-added.html?page=all

^I think that's 50,000 jobs at foreign-owned companies, not 50,000 companies. 

woops

These  FDI ("Foreign Direct Investment") profiles are actually quite interesting, placing Cincinnati high amongst its Midwestern peer cities.

How true is it that the Cincinnati metro may have a new F500 company via merger?

^Please elaborate.

^ http://www.cincinnati.com/story/money/2014/07/02/b-veritiv-forms-opens-trades/12109273

Interesting.  Thanks.

http://www.bizjournals.com/cincinnati/news/2014/07/03/merger-creates-hugenew-cincinnati-based-public.html

They are based in Loveland, though.

EXCLUSIVE: Huntington Bank near deal for new Cincinnati HQ

Tom Demeropolis and Steve Watkins - Cincinnati Business Courier

 

Huntington Bank – in the market for a new headquarters since last fall– will likely move to 525 Vine in downtown Cincinnati, according to real estate sources.

 

Greater Cincinnati’s fourth largest bank is likely to take between 50,000 and 60,000 square feet at the nearly 395,000-square-foot office tower across from Fountain Square, sources told the Courier.

 

Other potential sites for Huntington include Center at 600 Vine and Atrium Two, but real estate insiders say 525 Vine has the inside track to land Huntington and its 155 local employees.

 

Cont

 

Jul 14, 2014, 4:08pm EDT

 

EXCLUSIVE: Northlich scouting downtown for new office

Tom Demeropolis Reporter- Cincinnati Business Courier

 

Northlich, one of Cincinnati’s largest marketing/branding agencies, is looking for new office space.

 

The agency, which is currently located in the Sawyer Point Building at 720 E. Pete Rose Way, is looking for about 20,000 square feet of space in the Central Business District or Over-the-Rhine. Northlich’s existing lease runs until the end of 2015, but president and CEO Kathy Selker said she would like to have a decision made before the holidays this year.

 

http://www.bizjournals.com/cincinnati/news/2014/07/14/exclusive-northlich-scouting-downtown-for-new.html?page=all

 

Market research firm moves downtown office, but not very far

Tom Demeropolis Reporter- Cincinnati Business Courier

 

A large downtown office user made a move, but it didn’t go very far.

 

ORC International, one of the largest market research firms in Greater Cincinnati, just moved into the Edge Building, located at 310 Culvert St., from the Sawyer Point Building at 720 E. Pete Rose Way. A three-minute walk separates the two buildings at the southeast corner of downtown.

 

http://www.bizjournals.com/cincinnati/news/2014/07/21/market-research-firm-moves-downtown-office-but-not.html

This has been the second of third instance where an office tenant has moved from the fringe of downtown into the downtown. And I think this is the second one from the Sawyer Point building.

This has been the second of third instance where an office tenant has moved from the fringe of downtown into the downtown. And I think this is the second one from the Sawyer Point building.

 

You are right. I think one of the accounting firms is also moving out of that building. Sawyer Point is kinda an interesting building. Location isn't bad,

but the interior columns always lessened usable space vs rentable space.

Even though I wasn't the biggest fan of the proposed One River Place development on Pete Rose Way, I think building something residential at that spot by the Purple People Bridge would be a catalyst for improving that area for a few reasons. One it offers amazing connections and proximity to downtown and Newport and the other is that it would help bolster the emptying retail and office spaces in the vicinity.

 

This is an unbelievable deal on these properties, although I don't know the level of deferred maintenance and money it will take to market them as good space.  When I worked at Corporex in 1998-2002, we financed these buildings for $45M, and Neyer just picked them up for $16M!  I am not a huge fan of Neyer Properties, but they are good at filling up buildings and it will be nice to have these full again.

 

EXCLUSIVE: This local company won the Baldwin buildings auction

Tom Demeropolis Reporter- Cincinnati Business Courier

 

The Baldwin Complex, a two-building, 460,000-square-foot office complex just outside of downtown Cincinnati, should have a new owner in about 30 days.

 

The online auction of the properties concluded Wednesday afternoon with Evanston-based Neyer Properties coming in as the high bidder. The winning bid for both Grand Baldwin and Baldwin 200 was $16.2 million, or a little more than $35 per square foot. The starting bid was $3.4 million. The two buildings were valued at a combined $21 million.

 

http://www.bizjournals.com/cincinnati/news/2014/07/31/exclusive-this-local-company-won-the-baldwin.html?page=all

So is Corporex in financial trouble?  Why have they been unable to rent these spaces? 

 

This is an unbelievable deal on these properties, although I don't know the level of deferred maintenance and money it will take to market them as good space.  When I worked at Corporex in 1998-2002, we financed these buildings for $45M, and Neyer just picked them up for $16M!  I am not a huge fan of Neyer Properties, but they are good at filling up buildings and it will be nice to have these full again.

 

EXCLUSIVE: This local company won the Baldwin buildings auction

Tom Demeropolis Reporter- Cincinnati Business Courier

 

The Baldwin Complex, a two-building, 460,000-square-foot office complex just outside of downtown Cincinnati, should have a new owner in about 30 days.

 

The online auction of the properties concluded Wednesday afternoon with Evanston-based Neyer Properties coming in as the high bidder. The winning bid for both Grand Baldwin and Baldwin 200 was $16.2 million, or a little more than $35 per square foot. The starting bid was $3.4 million. The two buildings were valued at a combined $21 million.

 

http://www.bizjournals.com/cincinnati/news/2014/07/31/exclusive-this-local-company-won-the-baldwin.html?page=all

I was in that building about a gazillion years ago when, I think Phototype (?) was there.

It's kinda old, but $3.4M?

I guess these guys are opening a store on the Banks

http://www.wiesnkoenig.com/Home.25.0.html

 

 

Biz Courier story

http://www.bizjournals.com/cincinnati/news/2014/08/11/german-clothing-store-to-open-at-moerlein-brewery.html

^FYI, it will be at the brewery in OTR, not the the Lager House at The Banks.

^^ Awesome! I love this idea ... If it were up to me, we'd re-translate all of our old street names.

 

Speaking  of ... I just saw an old picture of my great, great, great grandfather Sunday. He never made it to the states from Germany, but his son did. Pretty cool stuff.

If it were up to me, we'd re-translate all of our old street names.

 

Totally agree.  It's time to get over the WWI anti-German hysteria and for the neighborhood to re-embrace its historical roots.

Speaking of the Graeter's OTR store... they said that it will only be an ice cream shop, and will not have bakery items, because it is such a small storefront. One of the things that has made the Gateway Quarter so successful is that the storefront are relatively small, and the businesses there have to focus on fewer products and do them well. For Graeter's, this is a new concept... or rather, a concept that they have to re-learn, since their stores have been getting larger and larger over the years. The same is true for Kroger... they keep growing and growing, and they have forgotten how to do anything but giant Marketplace stores well. It will be a challenge for chains to learn how to be successful in small spaces again.

 

Graeter's is looking to open stores in other cities and, like the OTR store, they will just focus on ice cream and not all of the other stuff they sell. I think it's a great idea for them to focus on what they do best and what they're known for.

Indeed.

German retailer opening U.S. flagship in Cincinnati

 

 

Wiesnkoenig (pronounced VEE’-sehn-koh-neg), the official supplier of lederhosen for the Munich Oktoberfest, is hoping its fashion-forward take on traditional German clothing takes off in America with the opening of its flagship U.S. store inside a Cincinnati brewery.

...

 

Wiesnkoenig is opening inside one of the city’s biggest success stories, the Christian Moerlein Brewing Co., once the fifth-largest brewery in the nation before Prohibition hit in 1920 and it closed.

 

http://www.ohio.com/business/german-retailer-opening-u-s-flagship-in-cincinnati-1.515410