Medpace is an international drug company with over 535 employees currently in Greater Cincinnati alone. Last year, they had grown out of their current Norwood location and needed a new facility. They were looking across the country but because of an agreement with the City, decided to relocate their corporate headquarters to the former NuTone site on Red Bank Road within the City Limits.

Medpace anticipates they will occupy 350,000 sq. ft. of new office space by 2014, with approximately 1,339 employees working in the new space. The new corporate campus will include three separate office buildings of between 110,000 to 130,000 sq. ft. each. The average salary for their employees will be $70,192.

The City offered Medpace, Inc. a Job Creation Tax Credit (JCTC) of 55% for 8 years. The City’s Economic Development Division has estimated that this incentive could save Medpace approximately $7.5 million over the 8 years. In return, approximately $41.7 million in new corporate profits tax and local income taxes will be generated by Medpace, Inc. for the benefit of the City during the 16 years the company must remain in the City under the JCTC Agreement.

The GO Cincinnati study, chaired by Chris Bortz, called for an enhanced Business Retention and Expansion office in the city, which negotiated this deal.