DevelopOhio

Cincinnati-based CTI Clinical Trial and Consulting Services has seen more than 20 percent average annual growth over the last five years, and that growth has the company exploring options for a new headquarters in Cincinnati or somewhere else, the Cincinnati Business Courier reports. Options included “building a multimillion-dollar office near either the University of Cincinnati or Northern Kentucky University,” or expanding their operations in Raleigh, N.C. Close proximity to universities such as Xavier and UC in Cincinnati or Wake Forest and Duke in North Carolina is “a driving force” on selecting a location, CEO Tim Schroeder said, as “[w]e do so much work with the universities.” CTI could spend “$15 million to $30 million” to build a new 100,000 to 150,000 square-foot headquarters, according to Schroeder, who said, “[w]e’re looking regionally at how we do that. Part of those discussions involve talking to the municipalities about various incentives.” By the end of this year, CTI “will have added about 75 employees,” bringing their total to 425 employees; one of every three new employees hired works in Greater Cincinnati. For more, read the full article.