Explanation
BACKGROUND: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Vision Service Plan equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. Vision Service Plan will make a fixed asset investment of approximately $350,000, which includes machinery, equipment, furniture and fixtures, create 35 new full-time permanent positions and retain 185 existing jobs in the City of Columbus.
Vision Service Plan was founded in Oakland, California in 1955 and has become the largest provider of vision insurance in the United States. Vision Service Plan offered the first prepaid, not-for-profit vision benefit. The company has over 56 million customers and provides services ranging from eye and vision care benefits to the manufacture and distribution of eyewear, and optical lab services. Vision Service Plan has established a number of call centers across the country including sites in Columbus, Ohio, Texas, Florida, and New York.
Vision Service Plan is proposing to expand its current Eastern Operations Center located at 3400 Morse Crossing, to meet its increased growth and consumer demand.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Jobs Growth Incentive Agreement with Vision Service Plan equal to twenty-five percent (25%) of the amount of new income tax withheld on employees for a term of five (5) years in consideration of the company's proposed investment of $350,000, the creation of 35 new full-time permanent positions and the retention of 185 full-time jobs.
Body
WHEREAS, the City desires to increase employment opportunities and encourage the creation of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, the Department of Development has received a completed Jobs...
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