COLUMBUS, Ohio, Dec. 21, 2022 /PRNewswire/ -- Ohio Governor Mike DeWine, Lt. Governor Jon Husted, and JobsOhio president and CEO J.P. Nauseef announced today that Medpace, a clinical contract research organization, is expanding its operations in Cincinnati and has committed to the addition of 1,500 new jobs with an associated payroll of $90 million over the next six years.
"Medpace has grown considerably since it was founded in Cincinnati three decades ago, and the research underway here is positively impacting healthcare on a global scale," said Ohio Governor Mike DeWine. "Medpace's continued growth in Ohio brings 1,500 new, high-paying jobs to Cincinnati in support of the next generation of pharmaceutical and medical innovations."
Medpace has committed to invest $150 million to expand operations and office capacity at its headquarters in Cincinnati by constructing a new building and parking garage currently planned to span 250,000 square feet of office and 1,000-stall parking spaces. The investment in infrastructure allows Medpace to grow its employment in Ohio by nearly 80 percent and expand operations as a clinical contract research organization.
The State of Ohio, JobsOhio, REDI Cincinnati, and the City of Cincinnati collaborated with Medpace to bring the expansion to Cincinnati.
"The Medpace expansion is a big deal for Ohio and the Cincinnati region," said Lt. Governor Jon Husted. "This expansion further solidifies the region as a bio-medical leader and serves as a biotech talent magnet for the region as thousands of high-paying careers develop in this sector of the economy."
Medpace has provided full-service clinical development services to the biopharmaceutical and medical device industries since 1992. With operations in 40 countries across six continents, work performed by Medpace is critical to the development of new therapies for the treatment of disease.
"On our 30th anniversary, we are proud to continue our growth here in Cincinnati where we established Medpace with a vision of helping patients, families and communities by advancing new and better medical treatments," said Jesse Geiger, President, Medpace. "As part of our expansion, Medpace will be hiring aggressively and plans to provide 1,500 new jobs in Cincinnati that will encompass a broad spectrum of professional opportunities. The talent and corroboration we find here and throughout all of Ohio has made an incredibly positive impact on our successful operations and our clinical trials that are strengthening healthcare and changing lives."
"Medpace's expansion brings a new facility to its campus that will further strengthen Ohio's position as a leader in healthcare innovation," said J.P. Nauseef, JobsOhio president and CEO. "By nearly doubling in size, Medpace will lead groundbreaking research to advance drug and medical devices that improve care for patients worldwide."
Today's announcement marks the second Medpace expansion within the City of Cincinnati since 2016, adding a combined 2,150 new jobs, $125.7M in new payroll, and $157M in fixed asset investment.
"On behalf of the City of Cincinnati, I couldn't be more thrilled about the opportunity generated by Medpace's expansion," said City of Cincinnati Mayor Aftab Pureval. "Growth is critical to our ability to succeed as a community and an economy, and this remarkable investment in Cincinnati jobs will make a profound impact. Thanks to Medpace's longstanding commitment to our City, and thanks to the continued success of strong partnerships with the State of Ohio, REDI, and JobsOhio, Cincinnati is reaching new heights as a thriving, attractive place for businesses and talent."
Employment opportunities encompass a wide variety of roles, including a heavy focus on STEM talent with physicians, lab technicians, clinical research associates, data analysts, financial analysts, software engineers, and more.
"Medpace's continued commitment to the Cincinnati region is a testament to our vitality and ability to support organizations in the healthcare industry," said Kimm Lauterbach, president and CEO, REDI Cincinnati. "From 2017-21, the region experienced nearly 25% growth in jobs in the biohealth sector due in part to our collective strength in the industry as well as Medpace's continued evolution as a global CRO. Cincinnati and southwest Ohio's capacity to support this growth is aided by the region's logistics and infrastructure ecosystem and the abilities of our local colleges, universities and technical schools to educate over 7,900 STEM graduates annually."
The project is contingent on state and local approvals of incentives. JobsOhio also plans to provide assistance, which will be made public after a final agreement is executed.
About JobsOhio
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention, and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio through Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership, and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter, and Facebook.
About Medpace
Medpace is a scientifically-driven, global, full-service clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries. Medpace's mission is to accelerate the global development of safe and effective medical therapeutics through its high-science and disciplined operating approach that leverages local regulatory and deep therapeutic expertise across all major areas including oncology, cardiology, metabolic disease, endocrinology, central nervous system, and anti-viral and anti-infective. Headquartered in Cincinnati, Ohio, Medpace employs over 5,000 people across 40 countries.
About REDI Cincinnati
The Regional Economic Development Initiative (REDI) Cincinnati is the first point-of-contact for companies locating or growing in the 16-county region at the heart of southwest Ohio, northern Kentucky, and southeast Indiana. REDI Cincinnati is supported by top business leaders and community partners and staffed by a team of economic development experts who are uniting the Cincinnati region to compete globally.
The future is bright, and we're building it, right now. Join us at REDICincinnati.com.
SOURCE JobsOhio
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