Explanation
Background: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Caster Connection, Inc. equal to twenty-five percent (25%) of the amount of personal income tax withheld on new Columbus withholding for a term of 3 years. Caster Connection, Inc. will invest $60,000, relocate and retain 10 positions (which will be new to Columbus) and create 6 new positions.
Caster Connection, Inc. is a manufacturer, supplier and distributor of casters and wheels, headquartered in Chardon, Ohio in the Cleveland area. Casters are wheels with attachments to mount to carts and furniture used in material handling equipment.
Caster Connection, Inc. is proposing to consolidate the bulk of their headquarters and distribution operation located in Chardon, Ohio, Novi, Michigan and Upper Arlington, Ohio to a 16,000 square foot space at 2380 International Street in west Columbus for the purpose of being more centrally located to its customers. Caster Connection, Inc. is requesting a Jobs Growth Incentive to assist in the consolidation and relocation to Columbus.
This legislation is requested to be considered as an emergency in order to allow Caster Connection, Inc. to begin investing and creating jobs as quickly as possible.
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 Caster Connection, Inc. equal to twenty-five percent (25%) of the amount of personal income tax withheld on new Columbus withholding for a term of 3 years in consideration of an investment of $60,000, the relocation and retention of 10 positions (which will be new to Columbus) and the creation of 6 new positions; and to declare an emergency.
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 application for the Jobs Growth Incentive from Caster Connection, Inc.; and
WHEREAS, Caster Connection, Inc., Inc. has indicated that a Jobs Growth Incentive is crucial to its decision to locate the aforementioned relocation into Columbus; and
WHEREAS, the City of Columbus desires to facilitate Caster Connection, Inc.'s future growth at the project site by the creation of new jobs; and
WHEREAS, in consideration of Caster Connection, Inc.'s proposed investment of $60,000, the relocation/retention of 10 full-time permanent positions (which will be new to Columbus) and the creation of 6 permanent full-time jobs; and
WHEREAS, an emergency exists in the usual daily operation of the Columbus Department of Development in that it is immediately necessary to enter into an agreement with Caster Connection, Inc. to allow Caster Connection, Inc. to begin investing and creating jobs as quickly as possible, all for the preserving of public health, peace, property and safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized to enter into a Jobs Growth Incentive with Caster Connection, Inc. equal to twenty-five percent (25%) of the amount of income tax withheld on new employees for a term of 3 years.
Section 2. Each year of the term of the agreement with Caster Connection, Inc., the City's obligation to pay the incentive is expressly contingent upon the passage of an ordinance appropriating and authorizing the expenditure of monies sufficient to make such payment and the certification of the City Auditor pursuant to Section 159 of the Columbus City Charter.
Section 3. That for reasons stated in the preamble hereto, which is hereby made a part hereof, the ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.