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Committee advances 7‑year, 40% tax credit for Waits Sensor Technologies’ move to Queensgate; company expects 48 new jobs
Summary
The Budget and Finance Committee advanced a job‑creation tax credit agreement for Waits Sensor Technologies Inc., which plans to relocate to 1045 West Eighth Street in Queensgate, consolidate operations and invest $1.1 million in improvements; the agreement contemplates a seven‑year, 40% tax credit and an expectation of 48 new jobs.
The Cincinnati Budget and Finance Committee advanced an ordinance approving a job‑creation tax credit agreement with Waits Sensor Technologies Inc., which plans to relocate from Covington to 1045 West Eighth Street in Queensgate and invest an estimated $1,100,000 in facility improvements.
Doctor Dudas presented the item on behalf of the Department of Community and Economic Development and said the agreement provides a tax credit over seven years at 40% and that the project involves 53 existing jobs and an expectation of 48 new jobs as part of the consolidation.
Council members on the committee praised the project’s potential for neighborhood job growth in Queensgate and noted that new payroll and activity could support city services. The committee put the ordinance on for passage.
