Leading Product Development Solution Provider Relocates from Silicon Valley
"think3's products and services enable mid-size manufacturers, such as those located throughout the U.S. Midwest manufacturing belt, to operate and innovate on a level playing field with much larger global competitors," said think3 chairman and CEO Joe Costello. "think3 represents one way in which manufacturers are successfully bridging the gap between 'old' and 'new' economies, and we're looking forward to having an especially strong impact on this region's ongoing technological and economic expansion given the new location for our corporate headquarters."
Cincinnati Mayor Charlie Luken said, "I am excited about think3's plans to relocate its worldwide corporate headquarters to downtown Cincinnati, and I believe City Council will be excited as well. The company will strengthen our city as it brings high-paying jobs, high-tech innovation, and products and services to ensure that Cincinnati's and Ohio's mid-size manufacturers remain competitive. I am especially pleased to know that one of the factors that made Cincinnati so attractive was the region's exceptional talent pool."
Nick Vehr, vice president, economic development, Partnership for Greater Cincinnati, said, "Adding another corporate headquarters is a tremendous win for this region and its core, downtown Cincinnati. Being able to attract a company such as think3, with its strong presence throughout the U.S., Europe and Asia, is a testament to the strength of the region." According to Johnathan M. Holifield, vice president and executive director, CincyTechUSA, "think3's relocation confirms that Gov. Taft's Third Frontier is on-target and this region is a magnet for growing technology companies seeking the talent, infrastructure and environment uniquely available here."
According to the most recent Cyberstates report, published by the American Electronics Association, Ohio held its ranking as 12th in the nation by adding 1,000 high-tech jobs and reaching a total of 151,300 workers in the high-tech industry. Ohio's high-tech payroll equaled $8.1 billion in 2000, ranking it 15th nationwide.*
The company expects to grow the Cincinnati office to over 45 employees, including transfers and new hires, within the first three years of operation. The company's other primary U.S. locations include Boston and Chicago.
According to Dan Meyer, think3 vice president of worldwide marketing, the company's new Cincinnati location enables faster and stronger connections with prospective customers and employees. "think3 has a proven track record of helping customers realize dramatic gains in productivity and competitiveness by providing the technology and expertise to power their product development process. The talents of our employees around the world are the foundation for our success. As we continue our rapid growth, our Cincinnati office puts us in close proximity with the deep PLM talent pool in this region."
think3's worldwide corporate headquarters relocation to Cincinnati is contingent upon the necessary approvals for economic development incentives offered by the City of Cincinnati and Ohio Department of Development.
*Source: American Electronics Association Cyberstates 2002; An updated
report will be available November 2003.
About think3
think3 is a global provider of integrated product development solutions. The company delivers mechanical design and product data management software combined with expert services to help mid-sized manufacturers improve their product development effectiveness. think3's unique business delivery model lowers customers' upfront risk and investment, removes barriers to adoption and accelerates time-to-benefits. think3's more than 5,000 customers include leading companies in industrial machinery, industrial design and mold making. Privately held, think3 is a global organization headquartered in Cincinnati, with offices throughout Europe, Asia and North America. For more information visit http://www.think3.com/
CONTACT: Heather Valento of Northlich, +1-513-762-1726, or fax,
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Web site: http://www.think3.com/