A family-owned company that has had a hand in building some of the region’s landmarks over the last few decades is moving its headquarters into Northern Kentucky.
Hilltop Basic Resources Inc. is planning to move its corporate headquarters to the Covington riverfront, bringing 20 jobs and a $3.3 million investment.
Hilltop has 240 employees at its operations around the Tristate and serves clients in five states, supplying aggregates and ready-mix concrete that has been used to build some of the area’s most visible infrastructure projects including the RiverCenter towers (where Hilltop will make its new headquarters), The Ascent at Roebling's Bridge residential tower, Great American Ball Park and The Banks in Cincinnati, as well as the ongoing Riverfront Commons trail and amphitheater project that will reconnect Covington to the Ohio River.
Hilltop said it has signed a lease to occupy 9,500 square feet in the RiverCenter I tower at 50 E. RiverCenter Blvd. and will relocate from Cincinnati on July 31.
Hilltop President Kevin Sheehan says the headquarters move was prompted by the conversion to apartments from offices at its current home, the Fourth and Vine Tower in downtown Cincinnati.
“We loved having our headquarters in Cincinnati and look forward to enjoying our new Covington location, too," he says.
The Covington Board of Commissioners is expected to approve a five-year, 1 percent payroll tax incentive for the company.
"This incentive is an investment that will have huge payback - the city expects to realize $4 for every $1 of foregone revenue," says Covington Economic Development Director Tom West.
Hilltop Basic Resources, whose green and red trucks are frequent sights throughout the region, was founded in 1941 by I.W. and Katherine D. Steele in Cincinnati as a building material and ready-mix concrete, supply company.
It expanded over the years, and today owns and operate three quarries, four distribution terminals and two ready-mixed concrete plants, including the largest concrete plant in the region.