Citizens For A Better Norwood

Thursday, October 02, 2008

Enquirer: Norwood’s Medpace nears decision on new HQ

Today’s Enquirer reports that Medpace, Inc. expects to decide in the next few months whether to relocate its Norwood corporate headquarters to Greater Cincinnati or to Northern Kentucky. The move will create nearly 800 new jobs.

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.