Toyota Motor Corp. is near a decision on the location in Greater Cincinnati for its estimated $90 million auto service parts distribution center expected to employ 370.
Toyota Motor Sales U.S.A., which would operate the center, is said to be looking at two sites in Northern Kentucky and in the new Union Centre Commerce Park in Butler County.
Toyota won't comment, but there are signs that it may have narrowed its search to Northern Kentucky. Although Toyota sought and received state and local tax incentives in Kentucky and state incentives in Ohio, it hasn't applied for local incentives in Butler County. "It doesn't look good," said Curt Arulf, Butler County economic development administrator.
Diana DeJoseph, spokeswoman for Toyota Motor Sales, said the company is still evaluating a number of factors, but expects to make a decision before year-end. A source close to Toyota said the company hasn't ruled out the Butler County location which has some advantages over the Kentucky sites. Stay tuned.
Mike Boyer
FCC idea makes waves
One proposal on the back burner at the Federal Communications Commission, according to the Nov. 30
edition of Electronic Media: requiring companies with more than one television station and four radio stations in a market to sell a station.
The story about the proposal, anchored by anonymous sources, did not slip past brass at Covington-based Jacor, which owns WKRC-TV and eight radio stations in Greater Cincinnati (WKRC-AM, WLW-AM, WCKY-AM, WSAI-AM, WOFX-FM, WVMX-FM, WEBN-FM and WKFS-FM).
"We read," Jacor spokeswoman Pam Taylor said. As long as the proposal remains that -- a proposal -- Jacor has no problems. But if it moves to the front burner at the FCC's December meeting, look for fireworks from Jacor CEO Randy Michaels. "We think it's a trial balloon, and it's going over like a lead balloon," Ms. Taylor said.
John Eckberg
Betting against Frosty
Jeweler Joe Koester likes to sell ice, and because of that, he could be the area's best-prepared man for snow.
Mr. Koester, owner of Herzog Jewelers in Fort Mitchell, is in the fourth year of a promotion that rewards snowfall with free jewelry. If Cincinnati Northern Kentucky International Airport sees 3 or more inches on the eve of Jan. 7, his customers can see 100 percent refunds.
Shoppers up to New Year's Eve can register to participate in the program, which is insured with local exclusivity by a company called WorldWide Weather. If the region sees the required snowfall between 6 p.m. and midnight Jan. 7, those shoppers can collect a refund or more jewelry.
"People love it," Mr. Koester said. "It's like getting something for nothing."
So far, Herzog has not had to make refunds -- last year, it missed the snowfall by two days. But if Mr. Koester must pay, at least he's insured. If only he gave out road salt.
Lisa Biank Fasig
Counting and spelling
The term "banc" or "bancorp" -- used for years as part of the name of a bank's parent company -- is quietly being
erased as the landscape of the financial-services industry rapidly changes.
For example, Fifth Third, Greater Cincinnati's largest financial institution, is considering whether to change the name of its parent to Fifth Third Inc. from Fifth Third Bancorp.
Fifth Third executives say such a move would be reflective of brand identity and recognition that the name gets as being viewed as one the nation's most profitable banks.
If Fifth Third changes its parent's name, it would become the latest Ohio-based bank to do so. Provident Financial Group Inc., formerly Provident Bancorp Inc., changed its parent's name last year to reflect a more diversified line of financial products. Star Banc Corp., formerly Cincinnati's second-largest hometown bank, became Firstar Corp. last month when it acquired the Milwaukee-based banking company for about $8 billion and took its name.
And last month, Banc One Corp. changed the spelling of its parent's name to Bank One Corp. after completing its $18.9 billion merger with First Chicago NBD Corp.
Jeff McKinney
Items for Tipsheet are gathered by Enquirer business reporters and compiled by Lisa Biank Fasig of the business staff.
