Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with DSW Inc., DSW Shoe Warehouse, Inc., DSW Information Technology LLC, DSW Leased Business Division LLC, Brand Card Services LLC and eTailDirect LLC, collectively, and hereinafter referred to as “DSW”. The Ohio Tax Credit Legislation (Section 718.15 of the Ohio Revised Code) authorizing such agreements became effective January 14, 1993 and requires the City to enter a Council-approved agreement between the City and a participating company.
DSW is a leading branded footwear and accessories retailer that offers a wide selection of brand name and designer dress, casual and athletic footwear, and accessories for women, men and kids. The company was founded in 1991, opening its first DSW store in Dublin, Ohio. The company operates 481stores in 42 states, the District of Columbia and Puerto Rico, as well as 386 leased departments for other retailers in the United States, making the company one of the fastest growing retailers. DSW’s headquarters, distribution and fulfillment operations are located in the Columbus International Air Center Business Park, Columbus, Ohio and include the following subsidiaries: DSW Inc., DSW Show Warehouse, Inc., DSW Information Technology LLC, DSW Leased Business Division LLC, Brand Card Services LLC and eTailDirect, LLC.
DSW is in the initial stages of implementing a robust growth strategy to increase its children’s shoes line, expand its store base, enhance its omni-channel capabilities, and broaden its global reach. To execute this strategic growth plan, DSW proposes to reconfigure its corporate headquarters at 810 DSW Drive, Columbus, Ohio 43219 and invest approximately $3.6 million in building improvements on a vacant space consisting of approximately 82,000 square feet at 4314 East Fifth Avenue, Columbus, Ohio 43219, inside the Republic Airways repurposed hangar. DSW proposes to enter into a 5-year lease agreement on this vacant space, c...
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