Moraine is offering a 25 percent payroll reimbursement over five years for Fidelity, a subsidiary of Premier Health Partners, said Moraine Economic Development Director Michael Davis.
The move would bring a $12 million payroll to offices at 3170 Kettering Blvd., space formerly occupied by The Berry Co. before it moved nearly 300 jobs from Moraine to Miami Valley Research Park in Kettering last year, officials said.
“It’s a really good user for that location,” said Moraine City Manager David Hicks.
Fidelity’s move, which involves jobs with an average salary of $50,000 per year, is expected to be completed this year, Davis said.
“What is attractive to them on that site,” he said, “(is) there could be future possibilities, if not with Fidelity, maybe with Premier, down the line. But that is not part of this effort.”
Attempts to reach Fidelity officials Thursday afternoon were unsuccessful.
Fidelity’s plans to move came down to a need for more space, said Kettering Economic Development Manager Gregg Gorsuch.
The company had limited space for further growth and had limited parking for its employees, he said.
Under the deal, Fidelity would purchase three buildings, Davis said. Two of the buildings include 80,000 square feet of office space, while the third has 10,000 square feet of office space, he said.
In return, Moraine would pay Fidelity $75,000 annually for five years beginning in February 2017, Moraine documents show. A sixth payment of $25,000 would be due June 30, 2021, records show.
Two properties owned by LM Berry Services Inc. at 3170 Kettering Blvd. are valued at $1.61 million and $1.55 million, respectively, according to the Montgomery County Auditor’s website.
“The most attractive items to (Fidelity) is the fact that they can renovate the building the way they need,” Davis said. “It is not in a condition they want it in now – where their offices will go. They like the 10,000 square foot warehouse. They needed storage space.”
There is no closing date on the property yet, Davis said. Fidelity projected its renovation could cost $500,000 for one of the buildings, he said.
A move date would be dependent on how long that work takes, but Davis said he hopes to have Fidelity move in by fall.
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