Josh Pichler

jpichler@enquirer.com

A company in the middle of transforming itself is adding 600 jobs to a city that's doing the same thing.

Cincinnati Bell – the 140-year-old telephone company that's turning into a fiber-based entertainment, communications and IT solutions firm – announced Monday it will move 600 jobs Downtown, where hundreds of millions of redevelopment dollars over the past 10 years have re-energized a once-stagnant urban core.

Cincinnati Bell plans to lease approximately 220,000 square feet of office space in the Atrium II building at 221 E. Fourth St., where its headquarters is already based.

The jobs, which will double Cincinnati Bell's presence in the Central Business District, come with a price.

Cincinnati is offering economic incentives that could total $10.5 million over the next 10 years.

And Cincinnati's gain is Norwood's loss – most of the jobs will relocate from that city, which is approximately 5 miles north up Interstate 71.

But in addition to exposing new employees to Downtown's restaurant, entertainment and housing opportunities, the announcement could be a positive omen in the city's attempt to land General Electric's new U.S. Global Operations Center. The Banks, Oakley and Mason are contenders for the center, which will bring up to 2,000 jobs to the region.

Cincinnati Bell has a strong relationship with General Electric, and its chief executive officer, Ted Torbeck, is a former GE executive. Cincinnati Bell currently has 300 employees working at GE Aviation in Evendale to help manage that company's IT infrastructure.

It also has business relationships with Downtown companies including Procter & Gamble, Fifth Third and Nielsen, which underscores Cincinnati Bell's interest in consolidating staff. Serving large customers has become a critical part of the company's business model.

Torbeck declined an interview request Monday, but in a statement said the company is pleased to be bringing more employees Downtown. Cincinnati Bell employees will begin moving into Atrium II over the next 12 to 18 months.

"We are first and foremost a Cincinnati company," Torbeck said. "We're proud of our 140-year Cincinnati heritage and even prouder that we are able to centralize more of our employees in one location while remaining in the city."

Mayor John Cranley said Torbeck approached him a few months ago and that the deal started coming together over a breakfast meeting.

"We told them we wanted them in the city," Cranley said. "It's great to have that many more people Downtown, participating in the vibrancy of Downtown."

Scott Abernethy, a senior vice president and principal at Cassidy Turley, said Atrium II will be full once Cincinnati Bell employees move in.

"That's a good thing for that building and Downtown office (space)," Abernethy said.

David Ginsburg, president and CEO of Downtown Cincinnati Inc., called the announcement "a great show of confidence from a major American corporation in our city."

The move leaves a big hole in Norwood's Central Parke development, which sits on the former site of a General Motors automobile production plant that closed in 1987. Cincinnati Bell is the largest tenant in terms of office space and employment at Central Parke, a development owned by an investor group led by Blue Ash-based Viking Partners.

Cassidy Turley handles office leasing at the Norwood development, and Abernethy said he's regularly fielding inquiries from people and companies interested in the location.

Norwood Mayor Tom Williams said he is disappointed by the news, but optimistic about Norwood's future.

"Obviously we're not happy with it, but some of these things are out of our control," Williams said. "We honored every request that they had and did what we were supposed to do. They were great, I wish them the best, and there's no use being bitter about it."

Norwood has had some big economic development wins recently, including Paycor's new headquarters, which opened this year. Rookwood Exchange is growing with a mix of retail, restaurants and office space. The construction of University Station at Xavier University is underway.

Norwood is also in the hunt to land a new headquarters for Catholic Health Partners, which has offices across the region, including Downtown. It wants to consolidate staff of approximately 1,100.

In May, CHP said it's narrowed its search to a vacant site in Cincinnati's Bond Hill neighborhood, and the former U.S. Playing Card Co. campus in Norwood.

"It's a fantastic opportunity," Williams told The Enquirer in April.

Staff writers Bowdeya Tweh and Sharon Coolidge contributed