Cincinnati Mayor John Cranley says Cincinnati Bell is consolidating its operations at the Atrium II building over the next three years, bringing at least 600 new jobs downtown. The jobs will come from a variety of locations, but primarily Norwood.
The company has signed a letter of intent to lease approximately 220,000 square feet of office space at 221 E. Fourth Street. Under the deal, Bell will maintain its Seventh Street operations center downtown. The company has about 3,000 employees in Greater Cincinnati, with an estimated 652 workers currently based downtown.
Cincinnati Bell is getting out of the wireless business. The telephone company is selling its wireless spectrum and some related assets to Verizon Wireless for approximately $210 million.
The company will "lease back" the spectrum while the deal closes so customers can transition to Verizon or another provider. The deal is expected to close in the second half of 2014. Cincinnati Bell Wireless says it will provide additional details to customers at that time. However, a company spokesperson says CBW customers will not automatically become Verizon users.