. plans to hire 590 people for digital and technology jobs that will be based at the Atrium II Building
, 221 E. Fourth St., city economic development officials said Monday.
Cincinnati City Council members gave initial approval on Monday to an incentive deal with the nation’s largest traditional grocer (NYSE: KR), which will have a $40 million payroll at the Atrium II site.
Kroger plans to invest $5 million in leasehold improvements, furniture, fixtures and equipment at Atrium II.
The new employees will help the company as it continues its Restock program to increase shareholder value, said Phil Denning, the city’s economic and community development director.
Some of the jobs that will move into Atrium II already are located in the region, but all of them will be new to the city of Cincinnati itself, Denning said. Kroger wants them all in one location, he added.
“They’re growing like crazy,” Denning said in an interview. “They see real value in talent recruitment in being downtown in a walkable environment. They’ve made a real commitment to this city.”
Under the agreement, the city will award Kroger a five-year, 40 percent job creation tax credit valued at nearly $1.7 million. Under a JCTC agreement, the city returns a percentage of the individual local income taxes generated at a site to a company. The city will receive an estimated $2.5 million under the agreement. Kroger must keep the jobs at the site for another five years after the JCTC expires, according to documents filed with the city.