from the advocate website
Aurora — The city continues to take steps to keep one of its largest employers from moving.
At City Council’s April 28 session, members passed two ordinances in an effort to convince Rotek to stay here and not move to Kentucky.
Rotek plans a $90 million expansion, but is also considering leaving for Florence, Ky., just across the Ohio River from Cincinnati.
The first item passed will have the city and Rotek entering into a Community Reinvestment Area, in which Rotek will receive a 15-year, 100 percent tax abatement.
Finance Director Bob Paul said of the proposed $90 million expansion, $17 million is for real estate and $73 million for equipment. Only the real estate falls under the abatement.
Rotek would receive $3.4 million in tax abatement during the 15 years.
The other ordinance will allow the allocation of up to $450,000 of the budgeted 2008 road paving program to improve Route 43 in front of the plant.
The plan is to widen Route 43 to include a left-turn lane and deceleration lane.
Mayor Lynn McGill said he has already found a way to allocate $200,000. He feels confident the city can get a grant to cover remaining costs, perhaps later this year.
Len Osborne, president of Rotek, said the current two-lane setup of Route 43 doesn’t lend itself well for future expansion.
“It’s not suitable for what we want to be and what we will grow into,” he said. “What we’re looking for is a single turning lane and more space for large vehicles coming in.”
McGill said all other projects scheduled in the road paving program will go forward even with the extra money needed for the Route 43 project.
The ordinances are pending Rotek’s decision to stay in Aurora. Osborne said officials likely will make a decision by the middle of May.
This is from another website, looks like Rotek has already purchased land in Keeen tucky. And Rotek also wants somebody to build them a rail-line here. It looks like the only place for it would be through Tinkers Creek State Park and Nature Preserve.
Additionally Rotek wants the city to pay a half million dollars to widen the road. Rotek is owned by http://www.thyssenkrupp.com/ a huge multinational company. They to be able to afford to widen the road for their own needs. Adn rotek spokesmen at city council talked about a significant increase in traffic, does that mean thru town or to the freeways in STREETSBORO?
Rotek Expands Industrial Portfolio in KY
Private Duo Sells 148,440 SF at 8085 Production Drive
Rotek Inc. acquired the industrial building at 8085 Production Drive in Florence, KY, from Herbert and Leona Pearson for $3.05 million, or about $20.50 per square foot.
Built in 1987, 8085 Production Drive is a one-story, 48,440-square-foot industrial building on 13.44 acres. Rotek will occupy the building.
Si Pitstick and Joshua Young of Cincinnati Commercial Realtors/Cushman & Wakefield represented the seller. Jeffrey Bender, Kimberly Bertke, Jim O’Connell, Tom Powers and Michael Sullivan of Colliers Turley Martin Tucker handled the transaction for Rotek.
For more information, please refer to CoStar COMPS #1515502.
And if $3.4 million in tax abatement, along with $450,000 in tax PAYER funds for road improvements isn’t enough, hopefully the mayor and city council will authorize the police department to snatch people off the streets to provide free labor for Rotek.
Too bad Rotek isn’t located on COCHRAN RD!! I bet those residents wish they got such quick reactions.
I wonder if Rotek is currently a union shop, and if Kentucky would not be. Moving is a good way to get rid of higher paying jobs and start over with new workers earning less.
What’s the take in money from them if they stay? How much does the city get and how much do we give away with this deal? If they leave, won’t someone else will move in?
The shop up here is currently unionized, they had a short walkout a year or two ago over health care benefits; the strike was settled quickly. The shop in Kentucky is nonunion. The company is currently squeezing everything they can out of Aurora, only to take it to Kentucky to match. I’d say the writing is on the wall…