Tuesday July 28, 2020

Silco Fire & Security building HQ, adding 48 jobs

Silco Fire & Security has partnered with Al. Neyer to develop, design, and build its new headquarters in Evendale, Ohio. The fire and security systems company makes this move after looking to expand for the past two years, and after outgrowing its current headquarters facility. Construction of Silco’s 45,000 SF headquarters is scheduled to begin in September and be completed in June 2021.

From the Cincinnati Business Courier:

SILCO FIRE & SECURITY BUILDING HQ, ADDING 48 JOBS

A growing fire and security systems company in Greater Cincinnati plans to build a new headquarters, thanks in part to a state tax credit.

Brakefire Inc., which does business as Silco Fire & Security, plans to build a new headquarters that will house both its office and warehouse operations in Evendale. The expansion is expected to create 48 jobs and the capital investment will total $6.1 million.

The Ohio Tax Credit Authority approved a nearly 1.6%, seven-year job creation tax credit for Brakefire for the creation of more than $4.2 million in new annual payroll. As part of the tax credit agreement, the company is required to maintain operations at the project location for at least 10 years. The estimated value of the state tax credit is $400,000.

Dave Fraser, president of Silco Fire & Security, said the Evendale company has been looking at expanding for the past two years. As the company has grown, especially over the last five years, it has quickly outgrown a building that was expected to be a forever location.

“We’ve reconfigured time and again,” Fraser told me. “There are no more options to squeeze more people in. We had two, three people in some offices. It’s tight.”

Silco Fire & Security built its current headquarters facility, located at 10765 Medallion Drive, a little more than 20 years ago. The 17,000-square-foot building is a split of office (10,000 square feet) and warehouse space (7,000 square feet). More than 100 of the company’s nearly 300 total employees are based in Evendale.

The new facility, which will be located at 10200 Reading Road, will be a total of 45,000 square feet with about 20,000 square feet of office space. The company plans to create 48 jobs by the end of 2024.

Read more from Tom Demeropolis at the Cincinnati Business Courier here.

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