Medpace to add 1,500 jobs, invest $150 million in Madisonville campus expansion

The clinical contract research company promised to create 1,500 new jobs and pay $90 million in the next six-years. The company will also make a $150 million capital purchase at its campus headquarters in Madisonville. It is located at the intersection Madison and Red Bank roads. The company's leadership announced the expansion at a Madisonville news conference Wednesday morning, flanked by local and state officials, including Lt. Governor. Medpace (Nasdaq : MEDP), said that the investments will enable it to expand its operations in response to growing demand. President Jesse Geiger released that he was proud to see Medpace grow in Cincinnati. Medpace's latest expansion in Cincinnati marks the second such effort since 2016. Since 2016, Medpace has added 2,150 jobs, $125.7M in payroll, and $157M in fixed asset investments. Medpace moved from Norwood to Madisonville in 2010 when it was founded. Medpace has not yet released a location or timeline for the construction of the new building. Medpace stated that the expansion was necessary due to its continued growth. Since final agreements are still being negotiated, details on the incentives and their values were not available. Husted stated in a statement that the expansion of Medpace is a major deal for Ohio's Cincinnati region. It is the 12th largest publicly traded company in the region, with $1.14 Billion in revenue for 2021. Medpace expects 2022 revenues between $1.44 billion and $1.46 billion for 26.1% to 27.8% growth year-over-year.