Kettering City Council on Tuesday night unanimously approved a development agreement with the Community Tissue Services Center that will bring jobs to the planned $50 million expansion at Miami Valley Research Park.
In return for the investment and the retention of 618 expected jobs at the park, the city will grant to the center half the income tax revenue derived from new employees and will convey three parcels of land to the center.
Gregg Gorsuch, Kettering development director, told council members the agreement involved three parcels in the Miami Valley Research Park.
“One of the properties will be a 5.2 acre parcel that’s located along College Drive and Research Boulevard,” he said. “The second parcel is a 6.4-acre parcel that contains some retention ponds and is located along College Drive. The final parcel is will be a plus or minus 26-acre tract located on the north side of College Drive.”
The city will convey to the center 5.2 acres at the site for $1, the 6.4-acre site for $1, and for $10,000 per acre, the city will convey the 26 acres north of College Drive.
The city is expected to pay for certain public improvements and it will grant to the center 50 percent of total annual income tax revenue received from new permanent paid employees as a result of the expansion. That grant will last five years, the agreement states.
Council agenda documents put the estimated cost of the tax break at $400,000.
Center leaders have told the Dayton Daily News they plan to double the size of the center’s operations in Kettering and plans to add 200 employees in the next four years.
The center distributes more tissue grafts than any other facility in the world, operators say, and the planned $50 million expansion is an effort to strengthen the center’s place locally and globally.
The current facility at 2900 College Drive is about 94,000 square feet, said David Smith, chief executive of Community Tissue Services and its sister organization, Community Blood Center. The expansion will add another 120,000 to 130,000 square feet on adjoining properties, all on about 50 acres.