City of Cincinnati - File #: 202301666

• File #: 202301666
• Version: 1
• Type: Ordinance
• Status: Passed Emergency
• File created: 6/9/2023
• In control: Cincinnati City Council
• On agenda: 6/14/2023
• Final action: 6/14/2023
• ORD/RES# date: 6/14/2023
• ORD/RES#: 0232-2023
• Title: ORDINANCE (EMERGENCY), submitted by Sheryl M. M. Long, City Manager, on 6/12/2023, APPROVING AND AUTHORIZING the execution of a Job Creation and Retention Tax Credit Agreement with Medpace, Inc., pursuant to which the company agrees to create 1,500 new jobs and retain 2,099 existing jobs at Medpace, Inc.'s campus located at the southeast corner of Madison Road and Red Bank Expressway in Madisonville neighborhood of Cincinnati, and the City of Cincinnati agrees to provide an income tax credit equal to 55 percent of City income tax revenue from (i) 1,500 new jobs and 1,255 retained jobs for a period of fourteen years, and (ii) 844 retained jobs for a period of four years. (Subject to the Temporary Prohibition List)
• Sponsors: City Manager

Date	Ver.	Action By	Action	Result
6/14/2023	1	Cincinnati City Council	Passed Emergency	Pass
6/14/2023	1	Cincinnati City Council	Emergency clause to remain	Pass
6/14/2023	1	Cincinnati City Council	Suspension of the three readings	Pass
6/12/2023	1	Budget and Finance Committee	Recommend Passage Emergency

title

ORDINANCE (EMERGENCY), submitted by Sheryl M. M. Long, City Manager, on 6/12/2023, APPROVING AND AUTHORIZING the execution of a Job Creation and Retention Tax Credit Agreement with Medpace, Inc., pursuant to which the company agrees to create 1,500 new jobs and retain 2,099 existing jobs at Medpace, Inc.’s campus located at the southeast corner of Madison Road and Red Bank Expressway in Madisonville neighborhood of Cincinnati, and the City of Cincinnati agrees to provide an income tax credit equal to 55 percent of City income tax revenue from (i) 1,500 new jobs and 1,255 retained jobs for a period of fourteen years, and (ii) 844 retained jobs for a period of four years. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>)

recommendation

PASS EMERGENCY