Done Deal: GE coming to the Banks
Cincinnati and Hamilton County have cleared the way to bring General Electric's Global Operations Center to The Banks.
City Council and the County Commission Monday morning approved several packages of incentives cementing the deal. GE is expected to bring nearly 1,800 jobs with an average total payroll of $142 million per year.
The five-year lease includes five, 5-year renewal options. Project Counsel Tom Gabelman says the overall annual benefit is huge. "School board payments, about $450,000/year. Earnings tax revenues of $1.9 million, sales tax and parking revenues... those all total over $1 billion a year."
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