AlvaEDU Inc. will soon relocate from Boca Raton, Fla., to the
Scripps Center downtown. The company plans to spend at least $120,000 on equipment and improvements to the space.
Initially, 17 employees are moving to Cincinnati, and AlvaEDU plans to add 50 new jobs over the next three years. The new jobs would add $3 million in annual payroll to the city.
In exchange for committing to stay in Cincinnati for 10 years, AlvaEDU is getting an income tax credit that is equal to 45 percent of the city income tax revenue from the new jobs for six years.
The company develops online learning programs and works to integrate technology into education.
AlvaEDU, which was founded in 2012 by Tim Loudermilk, has worked with 800 universities, and 1,800 of the largest companies in the world in more than 60 countries.
By Caitlin Koenig
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