General Electric and the University of Dayton have agreed to a leasing deal.
Dayton City leaders hope that a GE plant will help to attract other new high-tech businesses. Officials have estimated as many as 200 jobs could be created. City Commissioners are said to have unanimously approved the deal.
GE's new facility will be in an existing building on land that UD purchased from NCR. Officials said GE will not have to pay property tax for the first 15 years of their lease.
Construction is expected to begin in a month and to open in 2013