Monday, July 21, 2003

Convergys Deal Near Completion
WCPO is reporting the details:

  • $10 million dollars upfront to Convergys

  • $1 million paid after 225 jobs are added

  • $18.75 million paid over 30 months if Convergys purchases the Atrium One

  • $25 million as part of a job creation tax credit

The total would be $54.75 million. Only the $10 million would be upfront, the rest is conditional over time. The reduction is about $10 million from the original deal. This deal should get Pepper's vote, since he negotiated it, along with Reece and most likely Monzel. Monzel made the power play, but got what he wanted.

Other reports:
WLWT-NBC is reporting that the deal appears to be back on with at least 5 council members supporting the revised deals. No details were reported.
The Post indicates that the negotiations are still going on.
The Enquirer reports on the woes facing the Convergys Center if Convergys moves to the Atrium One.

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