Tuesday, June 3, 2008

Widmer's Cleaners may move 65 jobs to Oakley

Cincinnati City Council's Finance Committee is considering a tax abatement agreement that would allow Widmer's Cleaners to move 65 jobs to Oakley.

Widmer's, which has been in business since 1910, would like to relocate some employees from its Sharonville operation and consolidate its carpet division headquarters at a renovated 60,000-square-foot building at (BIRD'S EYE).

Under the Property Investment Reimbursement Agreement, the company would receive a tax abatement of up to $250,000 for money they plan to spend on renovations and newequipment over the next five years.

Annual payments would be limited to up to 50 percent of new income tax revenues generated by the new jobs.

The City estimates that the new jobs will bring in $27,480 in new annual income tax revenue, or $137,400 over the life of the agreement.

To take full advantage of the agreement, Widmer's would be required to create 118 new jobs over a period of ten years.

Widmer's Cleaners employs 217 citywide.

As part of the agreement, the company would make its best efforts to ensure that at least 75 percent of its new hires are Cincinnati residents.

The 65 jobs that would come to Oakley have an average hourly wage of $19.36 plus benefits.

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