CINCINNATI (FOX19) - In a rare joint meeting, Cincinnati City Council and Hamilton County commissioners unanimously approved on Monday an incentive package for General Electric's new facility at The Banks downtown.
The estimated payroll of the new location is $142 million with an average annual salary of $79,000.
GE said it anticipates its new U.S. Global Operations Center will be fully operational by 2017 and employ up to 2,000 workers. The company said the center is expected to bring 1,400 new GE jobs to Ohio.
A study from the University of Cincinnati projects the new facility to have an economic impact of more than $1 billion by 2018.
"The new operations center underscores GE's significant commitment to the state of Ohio where GE has 15,000 employees across the state with approximately 7,500 of those in Greater Cincinnati," the company said.
GE also considered Oakley and Mason for the new facility. The company said it selected The Banks because of its availability of local talent, proximity to downtown and parking as well as cost.
Councilman Chris Seelbach tweeted that streetcar was deciding factor for GE in choosing The Banks location.
"Cincinnati's on the move," said Mayor John Cranley following the incentive package approval.