Cincinnati Bell Inc. and its subsidiary CBTS plan to create more than 100 high-paying jobs to support the company’s investment in fiber networks that enable high-speed connectivity.
The Ohio Tax Credit Authority approved a nine-year, nearly 2.4% job creation tax credit Monday morning to help with CBTS’s job creation. JobsOhio also plans to provide assistance for the project, which will be made public after a final agreement is executed. The estimated value of the job creation tax credit is $2.5 million.
CBTS will create 137 jobs to help expand its fiber networks and network centric technology and professional services to help business customers. The new jobs will create nearly $15.8 million in new annual payroll, breaking down to an average of more than $115,000 per job.
CBTS, the technology solutions arm of Cincinnati Bell (NYSE: CBB), serves clients in all industries across the U.S. and Canada. It has partnerships with Fortune 500 clients, health care organizations, universities, and state and local governmental agencies in Ohio and across North America. Its technology consulting services include cloud assessment and strategy, infrastructure needs, communication channels and more.
Jeff Lackey, president of CBTS, said the agreement with JobsOhio will help CBTS “source the talent that is necessary to deliver an outstanding customer experience, drive additional growth at our company, and further strengthen our community engagement efforts.”
Leigh Fox, president and CEO of Cincinnati Bell, said last year showed the importance of connectivity and collaboration technologies.
“It has also demonstrated the importance of supporting customers and the communities we serve during challenging times,” Fox said in a release. “Today’s announcement will enable Cincinnati Bell and CBTS to continue delivering mission-critical technology while giving back to our communities well into the future.”
CBTS will be expanding in both Cincinnati and Springdale. As part of the tax credit agreement, CBTS is required to maintain operations at the project locations for at least 12 years.
According to a scope of work document from Ohio Development Services Agency, Ohio was competing with Kentucky for the project.
CBTS will be hiring for information technology and networking engineers, consultants and developers. Josh Pichler, senior manager of communications and media relations for Cincinnati Bell, said “CBTS is always recruiting for top-tier talent.”
“The scale and pace of hiring will be dictated by customer demand and the needs of the business over time,” Pichler said in an email to the Business Courier.
CBTS expects to complete hiring for the 137 additional positions in five years. It has 76 open positions in Southwest Ohio currently.
Kimm Lauterbach, REDI Cincinnati president and CEO, said “CBTS’s commitment to the Cincinnati region, both in terms of jobs and connectivity, helps the region stand apart.”
“I’m grateful for our partnership with JobsOhio and the Ohio Development Services Agency for their support of this project and their commitment to helping people stay connected,” Lauterbach said in a release.
CBTS is Greater Cincinnati’s third-largest IT consulting firm with local 2019 revenue of nearly $379 million, according to Business Courier research. Overall, CBTS's 2019 revenue was $567 million. Cincinnati Bell is the region’s ninth-largest public company with 2019 revenue of $1.54 billion.
