Monroe is one of three Ohio cities in the running to land a new business, according to City Manager William Brock.

An unidentified manufacturing company is looking at some industrial property at the Corridor 75 Park — developed by Vandercar Holdings Inc. — on Ohio 63 off Interstate 75 in Monroe.

The project has been given the code name “Project Helios.” “By far (it) would be our largest income tax generator in the city. It will likely spur additional development, both in the need for suppliers for this company, as well as the need for services, restaurants and those types of things,” City Manager William Brock said.

“They’re looking at several other states and we’re one out of three cities in Ohio currently that they’re looking at.”

However, Brock declined to identify the company.

Monroe’s Director of Development Kevin Chesar said the state would know if it is still in the running within the next four to six weeks.

“We’ve made a first cut and now we’re at the second cut. I think our intent is if we make this third cut, we can get more specific with council regarding some of the specific incentives,” he said.

Kimm Coyner, economic development director for the Warren County Port Authority, said any project the authority gets a lead on from the state about a prospective company interested in locating in the area is always given a code name such as Helios.

“Depending how far you get in the process, it becomes more clear,” she said.

Kelly Schlissberg, a spokesperson with the Ohio Department of Development, said during the early stages of negotiations, “projects we’re working on are confidential.”

“Many times before companies have announced a decision or anything like that or before we have any incentives approved for a company, a public board ... many times details and discussions regarding a project are confidential just to simply honor the company’s request for confidentiality,” she said.

The company, which is considering several other states, is requesting a combined incentives package from all the states in the running for the project in excess of $50 million, Brock said.

Other areas are offering multiple incentives packages such as free land and community reinvestment area tax abatements already in place, he said

Brock said some of the programs that council will be asked to consider to encourage the company to move to Monroe include a waiver, which would affect the corporate income tax, a potential loan, waiving a portion of the city’s building fees, restructuring its utility costs and waiving site plan and engineering review fees.

“It’s not a lot of money, but it can make an impact,” he said.

“This is again a very competitive market. We’re trying to be competitive with the other sites in Ohio and the other states. Obviously, the state plays a huge role in landing this company. Whether or not we can do it, again our piece is very small, but the state’s piece is going to be pretty big.”

Coyner said landing the business would be a “huge coup for Warren County” and Monroe.

“We don’t know that many details, which isn’t unusual at this stage, but even moreover, I think, that everyone’s being incredibly closed-lip because this is such an unusually large project given the current economy that we’re in,” she said.

Coyner said she’s hearing that if the company chooses to locate in Monroe and Warren County it would bring between 400 to 600 jobs to the area.

“That’s not a once-in-a-year project, that’s a kind of once-in-a-10-year project that you have the opportunity to work on,” she said.