The business park owner and developer, Al Neyer Inc., isbuilding the office facility and will lease the property back toPsion. Groundbreaking is expected to begin later this month. Othertenants at the corporate and flex-use park include Hahn Automation,Inc. and Krups Conveyor Systems Inc.

Karen Finan, with the Northern Kentucky Tri-County EconomicDevelopment Corp., tells GlobeSt.com that the Psion lease is partof the area's targeted industry focus. "They're a high-growthcompany with good technical jobs, in the emerging field of RFID,"she says. "We feel these types of high-tech jobs are very importantto the long-term vibrancy of our economy, and provide a blueprintto the types of companies we would like to see in this area, at thecorners of Indiana, Ohio and Kentucky."

She says the company did get some incentives from the KentuckyJobs Development Act for locating in the business park. "They haveto create a minimum of 15 new jobs," Finan says. The company, withits main headquarters in Mississauga, Ontario, currently has about142 employees in Erlanger, she says. Finan says she does not knowthe agreed-upon lease rate. Office asking rents are expected toreach $18.44 per sf in the Cincinnati area this year, whileeffective rents increase 2.8% to $15.22 per sf, according to arecent report by Marcus & Millichap.