CINCINNATI — Machinery maker Milacron LLC is moving its headquarters from Cincinnati's Oakley neighborhood to the Cincinnati suburb of Blue Ash, according to economic development officials and published reports.
Milacron also is adding about 300 new jobs to its facilities in Cincinnati, Batavia and Mount Orab, Ohio, after the company got approval June 1 for an Ohio state tax credit to create the jobs and do $11 million worth of improvements to its Ohio operations. That investment also will retain 933 jobs in the state, according to a news release from REDI Cincinnati, an economic development group.
The Ohio Tax Credit Authority approved a 75 percent, 10-year job creation tax credit for the company's expansion project and headquarters move.
Officials from Milacron were not immediately available for comment.
REDI Cincinnati said that Milacron has been evaluating locations for its headquarters and manufacturing, within southwest Ohio or Indiana.
The Cincinnati Enquirer quoted Thomas Seward, project manager for JobsOhio Inc., the state's economic development arm, as saying that the tax credit contributed to a decision by Milacron to remain in Ohio.
Blue Ash also has offered Milacron a grant to relocate its headquarters to the city, the Enquirer reported.
Milacron on April 3 announced plans for an initial public offering of stock, which would mark a return as a publicly traded company.