By Patrick Crowley
The Cincinnati Enquirer

COVINGTON - Three separate companies could bring as many as 1,400 new jobs to Covington under deals city officials are negotiating with the employers, according to a city commissioner.

Commissioner Jerry Bamberger said he couldn't give specifics because none of the deals are final. But he said the city is "negotiating with some big firms" that could bring the new jobs "that would be spread throughout the city."

At least one of the deals is awaiting final approval from a company's top executive and could be announced within a matter of days, Bamberger said.

Assistant City Manager Andy Riffe, whose duties include economic development recruitment, confirmed the negotiations but said he could not comment.

"We can't or won't say anything until these deals are done," Riffe said Monday.

Omnicare Inc., a pharmaceutical care company that is a member of the Fortune 500 list of the nation's largest companies, has received preliminary approval for a tax break it if expands in Kentucky but company officials did not return phone calls to comment on a possible expansion.

Omnicare operates its national headquarters in the RiverCenter office complex on Covington's riverfront and has another Northern Kentucky office in Fort Wright. A total of about 200 people work at both locations.

The company has received preliminary approval for up to $9.6 million in tax credits over 10 years from the Kentucky Economic Development Finance Authority, Hollie Spade, general counsel for Economic Development Cabinet said Monday.

Omnicare has proposed adding 241 jobs and 56,200-square-feet of office space in the expansion, Spade said.

Companies receiving preliminary approval under the Kentucky Jobs Development Act have a year to act before the offer expires, Spade said.

Under the state's offer, Omnicare would receive a credit on corporate income tax that could be spent on annual rent and expansion startup costs, she said.

Omnicare will appear in the April 5 edition of Fortune magazine as the 475th largest company based on 2003 sales of $3.5 billion. By comparison discount retailer Wal-Mart Stores Inc. is number one with sales just short of $260 billion.

The company moved from downtown Cincinnati to Covington about 10 years ago.

Few details on the other two potential deals are available.

"Nothing if finalized on any of these yet," Bamberger said. "But this could be great for the city in terms of jobs."

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E-mail pcrowley@enquirer.com