Kay Nolen, general counsel for Medpace, confirmed the company is looking at the former NuTone site in Madisonville, although a number of other properties are still under review. This week, the State of Ohio awarded the company a 75 percent tax credit for 10 years, valued at $15 million, for the proposed expansion. Ms. Nolan said Kentucky has also offered the company an incentives package but declined to reveal specifics.
If there’s any good news for Norwood regarding the Medpace move, its that the company’s nearly 500 employees won’t be leaving right away. According to Ms. Nolan, Medpace will continue to occupy its four locations here until all the leases expire. The largest location is about 135,000 square feet on Wesley Avenue, and that lease doesn’t expire until 2013.