Cincinnati manufacturer Milacron LLC is looking at moving its headquarters to the city of Blue Ash from Oakley.

Milacron was one of six companies that received approval for job creation tax credits from the Ohio Tax Credit Authority for expansion projects. The plastics manufacturer, which has the widest range of plastics processing equipment, technologies and services in the world, plans to create nearly 300 new jobs and retain another 933, according to a news release from REDI Cincinnati.

Officials with Milacron were not immediately available for comment.

The Tax Credit Authority approved a 75 percent, 10-year job creation tax credit for the company’s expansion project in Cincinnati, Blue Ash, Batavia and Mount Orab. The estimated value of the tax credit is more than $2.7 million.

As part of the expansion, Milacron is looking to move its headquarters to Vista Business Center in Blue Ash, located at 10200 Alliance Road. Currently, the company’s headquarters are located at 3010 Disney St.

The company’s proposed projects would involve a capital investment of $11 million. The 294 jobs the company expects to create would pay an average of $47,000 per year.

Blue Ash was competing with Indiana for the company’s headquarters, according to a release from REDI Cincinnati.

The news comes on the heels of Milacron’s plans to go public. Milacron Holdings Corp. filed its plan for an initial public offering in April.

Milacron brought in $1.2 billion in revenue in 2014, up 18 percent from the previous year, according to the SEC filing. Its adjusted earnings before interest, taxes, depreciation and amortization for 2014 were $199 million, and its net loss for that same period was $15 million.

Milacron provides plastics processing technologies and industrial fluids around the world. It is the fifth-largest private company in Cincinnati by revenue and had 4,934 employees in 2014, according to Courier research.

Neil Hensley, economic development director for the city of Blue Ash, said he expects Milacron to make a final decision on the move to the city very soon. Blue Ash would gain about 43 new headquarters jobs.

“It would be a really nice addition to our city,” Hensley said.

 

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