Bocchi Laboratories, a company based in Santa Clarita, Calif., plans to build a manufacturing facility in New Albany's Personal Care and Beauty Campus.
The move would create 300 jobs, according to city officials.
Joe Pender, company president and CEO, said company officials hope to break ground in October and open the 130,000-square-foot facility in summer 2015.
The facility, the company's second, would be built off Smith's Mill Loop Road.
Bocchi manufactures products for the health and beauty industries and produces items for Victoria's Secret and Bath and Body Works, Pender said.
Its products include shampoo and lotion.
Pender said Bocchi has some smaller clients in New York and New Jersey, which also could be served by the new facility.
New Albany City Council on May 20 voted 4-0 in favor of a 100 percent real property-tax abatement for 10 or 15 years.
City Council members Chip Fellows, Glyde Marsh, Stephen Pleasnick and Mayor Nancy Ferguson were present. Colleen Briscoe, Mike Mott and Sloan Spalding were absent.
Jennifer Chrysler, New Albany's community-development director, said the term of the abatement would be based on the type of facility the company builds and how environmentally friendly it is according to the city's "green" program.
Chrysler said the company has 11 acres in the campus, and has room for a 57,000-square-foot expansion.
Chrysler said the company is expected to invest $18 million in the facility and create 300 office and manufacturing jobs, which would produce an annual payroll of $7.48 million.
The manufacturing facility would generate an estimated $148,000 in annual income-tax revenue, which would be divided as follows: $44,400 for the New Albany Community Authority to pay off infrastructure debt incurred in building the Personal Care and Beauty Campus; $22,200 for the city of Columbus to fulfill a revenue-sharing agreement for the use of Columbus utilities; $40,700 for the Johnstown-Monroe Local School District for a revenue-sharing agreement; and $40,700 for New Albany's general fund.