Maxim Crane Works L.P., the largest provider of crane rental and lifting services in the U.S., is looking at expanding its operations in Greater Cincinnati.
Maxim Crane Works is proposing to construct an additional 17,000-square-foot building to house executives and administrative staff at its Wilder location at 840 Licking Pike, according to a report released by the Kentucky Economic Development Finance Authority. The total investment on the expansion and equipment would be more than $4.7 million and the expansion would create 100 high-paying jobs.
Officials with Maxim Crane Works were not immediately available for comment.
Maxim has 48 locations across the country providing services in all 50 states. The company is proposing the expansion to “accommodate its current and projected nationwide growth,” according to the report.
Under the proposed project, Maxim would spend $3 million on rent, $300,000 on building improvements and $1.35 million on other start-up costs. The company would add 40 jobs in the first year paying an average hourly wage, including benefits, of $69. By year five, Maxim is expected to add a total of 100 new jobs.
A special condition of the incentive would require Maxim to maintain a base employment equal to the number of full-time Kentucky resident employees as of the date of preliminary approval. The company reported 50 full-time, Kentucky resident employees as of the application date.
According to the Cincinnati Business Courier, Maxim’s proposed project received preliminary approval for $2 million over 10 years from the Kentucky Business Incentive program for rent, building/improvements and start-up costs.
Dan Tobergte, president of CEO of Northern Kentucky Tri-ED, said the approval is the first step in the process. He said he’s encouraged and hopeful that Maxim will decide to expand in Northern Kentucky.
Northern Kentucky Tri-ED is the primary economic development marketing agency for Boone, Kenton and Campbell counties. It has been working with Maxim to consolidate some of its other operations to Wilder.
Headquartered in Bridgeville, Penn., Maxim Crane Works merged with AmQuip Crane Rental in 2016. Funds managed by affiliates of Apollo Global Management LLC acquired AmQuip from affiliates of Clearlake Capital Group L.P. and Maxim from affiliates of Platinum Equity in May 2016. It then combined the two companies. The company has more than 2,500 cranes.
Maxim was founded in 1966 and operated more than 1,400 cranes before the merger.
