Kettering plans to sell Miami Valley Research Park land to a Beavercreek real estate business that is involved in an earlier deal for a medical device company to add jobs on nearby property.
The city wants to sell MLPC Capital Development LLC 1.62 acres for $81,537 as part of an effort “to preserve jobs, increase employment opportunities, and to encourage the establishment of new jobs,” Kettering records show.
The land is near 2941 College Drive, the address of Resonetics, according to city documents. The city has been told the new sale will help Resonetics “grow and expand,” according to Economic Development Manager Amy Schrimpf.
Schrimpf said her understanding is that the business wants to add space to the facility as well as parking. The sale was approved by Kettering City Council Tuesday night.
The agreement involved the Ohio Tax Credit Authority approving a 1.493%, eight-year tax credit valued at $570,000 for the expansion, said Lisa Colbert of the Ohio Development Services Agency.
At the time, Resonetics had about 147 employees in a 20,000 square foot facility on 4.5 acres in the college drive building it moved into in 2013, according to the city.
Miami Valley Research Park includes 1,250 acres in Beavercreek and Kettering. About 4,400 jobs are located in 22 buildings totaling 2.2 million square feet, according to its website.