By Liz Oakes
The Cincinnati Enquirer

FOREST PARK - The second company in as many months is looking at moving into the city's Carillon Business Park, creating seven new jobs over the next three years.

City council approved an enterprise zone agreement for Valley Belting & Hose Co. Inc. of Woodlawn.

The maker of belts and hoses for manufacturing use is considering building a 25,700-square-foot plant on 3.69 acres, said Paul Brehm, economic development director for Forest Park.

Carl Armbruster, CEO of Valley Belting, said the company is still weighing the move. "We have to get a lot of things accomplished before we can even do it," he said.

Brehm, however, is optimistic.

"With any of these projects, you have the enterprise zone agreement, then you have the other financial issues that a company always has to look at. It's never really a done deal until the company's at a point when they're ready to move ground," he said.

Brehm said Valley Belting, which employs 13 people, would invest close to $1.3 million in the property and building, and would relocate $400,000 in equipment to Forest Park.

The enterprise zone agreement would provide a 50 percent tax exemption on personal property for the company - machinery, equipment, furniture and fixtures - and improvements to the land for the six years of the agreement, Brehm said. The company would also purchase $208,000 in personal property over three years, he said.

Because the Winton Woods school district loses property tax revenue under such an agreement, "We recognize that it requires them to invest in these projects, as well," he said.

According to county estimates, Brehm said, over six years the school district would see about $20,000 in new property taxes from the move if the enterprise zone agreement were not in place.

But because Carillon Business Park is part of a tax increment financing district, the school district's portion not exempted under the enterprise zone agreement goes to help pay off road improvements to the business park, he said.

Brehm said the city requires that companies getting the enterprise zone tax break have the school district's OK before the agreement goes before the county for approval.

That sometimes means a onetime contribution to the school district, he said. A $2,000 contribution is being considered, but isn't final, Brehm said.

Hamilton County commissioners are expected to consider the request for an enterprise zone agreement by early next year, he said.

Valley Belting's move would bring the number of tenants in the business park to four.

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E-mail loakes@enquirer.com