Taxpayers will dig deep to bring GE to The Banks, sources say

Extra perks needed for more expensive site

CINCINNATI - Taxpayers will pay a premium to bring General Electric's Global Services Center to the Cincinnati riverfront, including a substantial parking discount for G.E. workers and a hefty property tax break for its new office building at The Banks, sources told WCPO.

Terms of the deal have yet to be announced, but G.E. is expected on Monday to ask Cincinnati City Council and the Hamilton County Commissioners to improve local incentives for the deal, said sources with knowledge of discussions of the deal. 

Cincinnati and Hamilton County will contribute extra incentives because the cost of building at The Banks is estimated to be at least 15 percent more expensive than alternate sites in Oakley and Mason, the sources said. 

WCPO Insiders can read more details about the parking perks and how much the property tax break will mean to GE. 

 

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