Saturday, April 07, 2001
Citicorp center may grow
Boone Co. in running for 2,000-job expansion
By Jim Hannah
The Cincinnati Enquirer
Citicorp may expand its Boone County operations center by as many as 2,000 new jobs.
The state has approved $26.7 million in tax credits under the Kentucky Jobs Development Act to encourage Citicorp Credit Services to build a second building at its 4600 Houston Road site.
If Citicorp chooses Northern Kentucky for its proposed expansion, the credit-card collections and service center would be joined by a 180,000-square-foot facility on the company's 81-acre campus.
Obviously, we would like to have them here, said Terri Bradshaw, spokeswoman for the Kentucky Cabinet for Economic Development.
That was our goal in offering them this incentive package before they committed to this expansion, Ms. Bradshaw said.
The tax credits for Citicorp were approved last week.
Citicorp's 145,000-square-foot facility, which opened in 1996, employs 940 people.
Ms. Bradshaw said said 70 percent to 80 percent of new jobs nationally come from expansion of existing companies, not from new or relocating companies.
Citicorp spokesman Jeff Kursman said communities outside Kentucky and Ohio are also in the running for the expansion.
Citicorp officials in Long Island, N.Y., wouldn't name the communities.
Mr. Kursman said a decision on where to expand may be made within a month.
The corporation's nationwide credit card operations include offices in Las Vegas; Wilmington, Del.; and Jacksonville, Fla.
Mr. Kursman said the expansion is needed because of growth in the number of credit-card holders.
Citicorp has 100 million card members worldwide.
It issues Citibank cards as well as cards under other names, including Diners Club and American Telephone & Telegraph Co.
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