Medpace, Inc. has been growing since it opened its doors in 1992. Its most-recent growth achieved recognition from local economic developers.
On March 2, Medpace earned a James A. Wuenker Growth Award from the Regional Economic Development Initiative (REDI) Cincinnati. Based on feedback from a panel of local economic development practitioners, Medpace was named as one of four winners. Other Growth Award winners include Nehemiah Manufacturing Company, Quotient Technologies and Safran Landing Systems. These four projects were selected from more than 90 completed throughout the three-state, 15-county Greater Cincinnati region in 2016.
Following two decades of steady organic growth, Medpace outgrew its Madisonville space in 2016. At this point, the company was faced with a dilemma – to grow in Greater Cincinnati or focus growth in locations outside the region. Medpace did not just want a new space, it needed a place where most of its functions could remain together. To maintain its high standard of excellence, Medpace knew this centralized operations model was vital.
“We knew we wanted to keep the ‘beating heart’ of the organization in one place,” said Stephen Ewald, general counsel for Medpace.
Medpace depends on smart, well-trained individuals who have experience in the medical field. Often, the company looks for young college graduates to train in the “Medpace” way. Company leaders recognized that Greater Cincinnati has excellent schools that can supply the company with a strong employee pipeline. The region’s low cost of living and growing “cool” reputation helps Medpace retain college graduates who may otherwise leave the area.
“Young people have the opportunity to develop their careers with us,” said Ewald. “Greater Cincinnati is becoming such a vibrant place, it’s exciting to see our employees stay, invest in the region and grow their families here.”
When Medpace was ready to expand, Greater Cincinnati’s economic development professionals were ready to help. A team of local, regional and state economic developers advocated on Medpace’s behalf and found the right resources to help the company grow in Madisonville.
“Any company that’s growing needs to engage with its economic development professionals early,” said Ewald. “They are a great resource who understand the community and can connect companies to the resources they need.”
Medpace and its fellow winners were recognized during REDI’s annual meeting at the Monastery Event Center on March 2, 2017.
PHOTO: Jeff Wunker, Stephen Ewald, Medpace COO and CFO Jesse Geiger, Oscar Bedolla and Johnna Reeder at REDI Cincinnati's 2017 annual meeting in Cincinnati, Thursday, March 2, 2017. (Steve Ziegelmeyer/REDI Cincinnati)