Miamisburg to capitalize on Beavercreek firm’s growth

The five-year job creation MIAMISBURG — tax credit deal Miamisburg is offering a Beavercreek defense contractor is expected to result in what City Manager Keith Johnson called “a good addition to the city’s corporate community.”

Under the plan, Miamisburg will give up 35 percent of the income taxes generated by Cornerstone Research Group Inc. for five years, providing the firm about $220,000 to bring in a $5.3 million annual payroll, records show.

The move, officials said, would allow the research and development specialist to expand into manufacturing by buying a 52,000 square foot building on nearly 5 acres.

“If you look at the way government works with business, this is an example of what’s right about it,” Johnson said of the deal his city council unanimously approved Tuesday night.

“The company’s making an investment in the community, the government is investing in that company and they’ll be a long-term presence in the community,” he added. “And we’re expecting to see a lot of job growth out of this.”

The deal is dependent on approval from Montgomery County, from which the city is seeking $225,000 for a move that’s expected to cost the company $5.5 million, Miamisburg Development Director Chris Fine said.

A group assessing county requests has recommended approval, Fine said. Upon a county commission vote, Cornerstone would move from 2750 Indian Ripple Road in Beavercreek Twp. to 510 Earl Blvd., after United Grinding North America vacates its long-time home.

UG is building a larger facility in the Austin Center area near the Interstate 75 interchange as part of an $18 million deal. That includes a $4.7 million access road funded by the city. The road and the building are scheduled to be completed this year, officials said. The ability to find a buyer for a space that’s not yet vacated is unusual, Fine said.

“It’s always good when it happens this way and certainly doesn’t happen like that often,” he said, noting United Grinding has “taken very good care of it and it’s in great shape.”