A release from the city says Taylor will retain offices at the Albany location for research & development, technology support and operations, like production. The existing space on Albany will be remodeled. But administrative departments will move downtown.
“Although Taylor Communications’ history at the Albany and Campbell location is long and storied, there are many positive reasons for change,” Mark O’Leary, president of Taylor Communications, said in a statement. “Dayton’s downtown area is growing, professional and vibrant, similar to our own culture.”
Minnesota-based Taylor Corp., of which Taylor Communications is a subsidiary, acquired the assets of Standard Register in 2015 and last year announced it would keep those operations in Dayton.
Taylor will lease eight floors at 111 W. First St., with plans to move in by this fall. More than 700 people will be employed at the two locations.
The company was promised a variety of incentives to stay in Dayton, including commitments from the city to make streetscape improvements around Standard Register’s Albany Street facility and remove blight in the neighborhood.
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The move will add to the 21,000 jobs already in the Central Business District and Webster Station while returning a notable downtown office tower to productive use.
“We are excited that Taylor continues to make a commitment to Dayton and the region,” said Mayor Nan Whaley in a statement. “This is a company with deep roots in our community, and we look forward to having them in Dayton for decades to come.”
Last year, Dayton officials and local economic leaders pledged to work with Taylor Communications and provide incentives to keep the company and its more than 700 employees inside of city limits.
Standard Register has been in Dayton for more than a century.
Dayton officials said the city would invest more than $2.1 million in streetscape improvements over several years to benefit Standard Register’s headquarters, located on Albany Street near the U.S. 35 and Interstate-75 interchange.
The city said it would demolish 30 to 40 nearby blighted structures to help improve the surrounding neighborhoods.
Last year, officials said CityWide would purchase and upgrade the Albany Street facility and then would enter into a 10-year lease with Taylor Communications for the property.
Taylor will receive a $500,000 grant from Montgomery County and a $500,000 grant from the city’s development fund, the release states.
The project is contingent upon the approval of state and local incentives.
Canadian real estate rental agency Olymbec purchased the 111 W. First St. building and adjacent parking lot in January 2016 for $645,750.
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Last May, the 161,165-square-foot building was only about a quarter occupied, and others tenants have since moved out, including Agnes All Natural Grill.
Olymbec last year said it would renovate the interior building, which was constructed in 1969, and add new exterior elements, including LED lights and glow-in-the-dark elements.
Ford Weber, city of Dayton development director, said Taylor will leave some 90 services and production workers at the company’s historic Albany Street location.
Both 111 W. First St, Taylor’s new downtown address, and 600 Albany St. are within Dayton city limits. “Which we are very pleased to see,” Weber said with a laugh.
“I think they (leaders of Taylor) see the momentum in the revitalization of downtown,” he said. “I think increasingly it’s becoming the place to do business.”
The move downtown will make it easier for Taylor to attract younger workers, he said. He does not expect Taylor to have much of a food operation at its new offices, which may bode well for downtown restaurants and small businesses, he also said.
“It will stimulate downtown businesses,” Weber said. “It’s going to be a real boost for that part of downtown.”