Riverside is hoping that a $1.2 million project to move a company into bigger office space will set the stage for as many as 125 new jobs.
Radiance Technologies Inc., an employee-owned engineering, and technology company, has expanded its staff by 45 to 70 in Riverside since the beginning of the year and is looking to relocate to larger space. It is considering moving employees to an 11,700-square-foot space at 5200 Springfield St. — one of the city-owned Wright Pointe office buildings.
“This is a much sought-after company due to their projected number and quality of the jobs being filled,” the city said in documents submitted to the county on the project. “Secondly, this company will continue to build the reputation of the Wright Point Office Complex as a center of research and development for Wright –Patterson AFB.”
Riverside is requesting $150,000 in economic development funds to support the $1.2 million move and expansion and will provide $300,000 of its own to support the project. That would pay for the $450,000 in renovations to space, Suite 200 in the building. The company would invest $750,000 in new equipment for it.
Radiance has 360 employees in 15 states and abroad, according to county documents. It expects to hire 120 over the next three years. It’s hoped the renovations would allow for the recent new staff, as well as new hires, to come to Riverside.
It’s part of a longer-term strategy by the city to backfill vacant space in the Wright Pointe Office Park, near Wright-Patterson Air Force Base, with a special emphasis on defense and aerospace companies.
Posted by the Dayton Business Journal on 4/2/2015