Amp Electric Cars is staying in Hamilton County. Amp, which converts new vehicles and vans into fully electric automobiles, expects to increase its workforce as it relocates to Loveland.
Hamilton County Development Company (HCDC) helped Amp work with its current landlord and exhausted all efforts to make it possible to stay at its current location. After Amp determined that it needed to relocate, HCDC helped Amp review more than 30 possible sites before choosing a new location at Loveland Commerce Park.
HCDC facilitated an effort between the City of Loveland and Amp to work out an incentive package that helped finalize the deal. Both entities agreed to an overall package that will include a $50,000 loan to Amp for moving and building costs. That loan is completely forgivable if Amp stays in the city and meets employment goals during the next five years.
According to Loveland officials, the increased income taxes paid by Amp’s 40 employees will cover the costs of the loan over seven years.
“Part of our mission is to keep our growing companies in Hamilton County,” said Harry Blanton, V.P. of HCDC. “When Amp needed to leave its current facility, we worked very hard to find them possible locations and incentives to stay here.”
“We are thrilled they are remaining in Hamilton County,” he added.
“We needed to have a facility we could show off to the public and our investors,” Lerick Chissus, Director of Supply Chain Management for Amp told the Cincinnati Enquirer. “We said, ‘This is the facility we want to bring people to.’”
Amp recently signed a deal with a utility company in Iceland to provide approximately 1,000 new electric vehicles.