It is moving its MRO — maintenance, repair, and overhaul — division to a 70,000 square-foot space it will lease at 575 Quality Blvd. Its headquarters and other operations will remain in Camp Washington.
“We’ve outgrown our facility and our opportunities in Cincinnati, so this is a great opportunity for us to increase our operations,’’ said Kevin Slattery, Meyer’s director of facilities.
The Fairfield location doubles its manufacturing facilities and provides the company the ability to grow further and offer more services, Slattery said.
The proximity to GE — one of Meyer’s largest MRO customers — and the aerospace corridor is one of the main reasons the company looked at Fairfield, Slattery said. The company also look at two other sites.
“It is in the aerospace corridor and we are in the aerospace business. There’s a real wealth of good talent for what we want to do,” Slattery said.
“It gives us an opportunity to further develop and grow our business.”
Thirty-five employees will move to the Fairfield location. Another 15 – or more – are anticipated to be hired over the next three years.
The company will invest about $6.25 million in the move. That includes $1 million in building improvements and another $5 million in machinery and equipment.
A major piece of equipment is already on order, said Michael Simmons, the firm’s director of facilities. The relocation of the MRO division will begin in August and become fully operational by year’s end.
“When (the building) was vacated last year, we were really hoping for a win here,” said Nathaniel Kaelin, the city’s economic development manager.
“We’re really glad to see a quality manufacturer move into the building.”
As an incentive, Fairfield City Council approved an eight-year Job Creation Incentive Economic Development Agreement with Meyer.
“This incentive will provide an annual grant (for eight years) of up to 32 percent of the new municipal tax collected from the payroll at the site,” Kaelin said.
According to the agreement, Meyer must relocate and retain 35 fulltime jobs, with an estimated annual payroll of $2.45 million. Within the next three years another 15 fulltime positions with an annual estimated payroll of $1.385 must be created in order to receive the grant.
Together, the $3.835 million payroll is expected to generate income tax to the city in excess of $57,500 annually.
Slattery said he expects growth to far exceed projections within five years.
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