Cincinnati City Council has approved a significant tax incentive aimed at attracting and consolidating jobs in the downtown area. The council unanimously supported a Community Reinvestment Area Agreement that grants AAA Club Alliance a 15-year tax exemption on improvements to their downtown property, paving the way for a substantial office renovation and job growth.
AAA Club Alliance plans to invest approximately $24 million to remodel a building at 15 W. Central Parkway, creating roughly 55,000 square feet of office space alongside 4,000 square feet of retail area. This development is expected to bring 165 jobs to Cincinnati, including 30 remote roles transitioning to in-person work and 135 new or relocated full-time positions with an average salary of $75,000.
The council estimates that these new jobs will generate about $181,000 annually in earnings tax revenue, totaling $1.8 million over the next decade. This additional income is seen as vital for funding city priorities such as public safety and affordable housing development. AAA Club Alliance is a major automobile association, known primarily for its roadside assistance services, and Cincinnati serves as a key hub in its nationwide network.