Explanation
Background: This legislation authorizes the Director of the Department of Development to enter into a grant agreement with One Columbus in an amount up to $1,300,000.00 for the purpose of providing resources for aggressive action with key business and government contacts for business attraction, expansion, and retention in the downtown area, central city neighborhoods, and growth areas of the City of Columbus. In addition, these funds represent a commitment to One Columbus' efforts related to the City's continued interest in workforce development, area wide marketing, international marketing, the creation and nurturing of entrepreneurship, and investment in public sector infrastructure. Funding will be advanced to the agency on a predetermined schedule. The amount of the contract with One Columbus is being increased by $600,000.00 in order to provide $500,000.00 in operating support to the Regional Housing Coalition and $100,000.00 in additional funding for economic development marketing.
One Columbus, the economic development organization for the 11 county Columbus Region, has set forth a vision for the Columbus Region to be the most prosperous region in the United States. Formerly Columbus 2020, One Columbus will continue to work in partnership with state and local partners, focusing on helping existing businesses grow, compete, and diversify the economy through the attraction of new businesses and support newly formed high-growth enterprises. The One Columbus strategy includes critical imperatives such as:
1. Sustain our economic momentum by continuing to make economic growth and prosperity a top priority;
2. Develop, inspire and attract a talented, adaptive and diverse workforce to compete for investment;
3. Enable the innovation capacity of businesses, academic and government sectors to grow dynamically; and
4. Increase global identity and connectivity.
One Columbus is also committed to achieving greater results than the goals achieved by Columbus 2020 in the last decade. Growth predictions include a 10% to 15% increase in jobs, payroll and investment while focusing on removing barriers to growth and prosperity. One Columbus will continue to work in partnership with City of Columbus officials to generate opportunity and build capacity for economic growth.
Fiscal Impact: The funding for this contract is available within the Economic Development Division’s 2025 General Fund Budget as well as the Neighborhood Economic Development Fund (2237)
Contract Compliance: The contract compliance number is 002921 expired 06/07/2025 but will be in compliance prior to the passage of this ordinance.
Title
To authorize the Director of the Department of Development to enter into a grant agreement with One Columbus in an amount up to $1,300,000.00 to provide support for economic development activities associated with business attraction, expansion, and retention as well as other activities related to the City of Columbus’ continued interest in workforce development, marketing, and entrepreneurship; to authorize the transfer between object classes; to authorize the appropriation in an amount up to $500,000.00 within the Neighborhood Economic Development fund; to authorize the expenditure of $1,300,000.00 within the 2025 General Fund and the Neighborhood Economic Development Fund; and to authorize the advancement of funds to the agency on a predetermined schedule. ($1,300,000.00)
Body
WHEREAS, One Columbus is a private nonprofit entity that seeks to leverage Central Ohio’s diverse industries, research and academic institutions, and entrepreneurship to position Columbus to become the fastest growing economy in the country and one of the nation’s leaders in economic development; and
WHEREAS, the One Columbus initiative, an aggressive economic development strategy, will grow the economy by ensuring that the existing companies are growing and thriving, attraction of new companies to the community, and encourage innovation; and
WHEREAS, these funds also represent commitment by One Columbus to the City's ongoing interests and efforts related to workforce development, marketing, entrepreneurship, and infrastructure; and
WHEREAS, the City of Columbus would like to continue providing funding to One Columbus to leverage economic development resources for the Columbus community without interruption; and
WHEREAS, there is a need to authorize the appropriation in an amount up to $500,000.00 within the Neighborhood Economic Development Fund; and
WHEREAS, the transfer of funds between object classes is authorized; and
WHEREAS, the expenditure is authorized in an amount up to $1,300,000.00 within the General Fund Budget as well as the Neighborhood Economic Development Fund for this contract; and
WHEREAS, One Columbus, on behalf of the City of Columbus, has agreed to aggressively pursue these interests in a mutually supportive manner; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development is authorized to enter into a grant agreement with One Columbus to provide support for economic development activities associated with business relocation, expansion, and retention as well as other activities related to the City's continued interest in workforce development, marketing, and entrepreneurship, and is authorized to advance funds per a schedule to be included in the agreement.
SECTION 2. That for the purpose stated in Section 1, the expenditure of $800,000.00 or so much thereof as may be needed, is hereby authorized within Fund 1000 (General Fund), Dept-Div 44-02 (Economic Development), in Object Class 05 (Contractual Services) per the accounting codes in the attachment to this ordinance.
SECTION 3. That for the purpose stated in Section 1, the transfer between object classes in an amount up to of $800,000.00 or so much thereof as may be needed, is hereby authorized within Fund 1000 (General Fund), Dept-Div 44-02 (Economic Development), from Object Class 01 (Personnel) and Object Class 03 (Contractual Services) to Object Class 05 (Other) per the accounting codes in the attachment to this ordinance.
SECTION 4. That for the purpose stated in Section 1, the appropriation and expenditure in an amount up to $500,000.00 or so much thereof as may be needed, is hereby authorized in Fund 2237 (Neighborhood Economic Development Fund), Dept-Div 44-02 (Economic Development), in Object Class 05 (Other) per the accounting codes in the attachment to this ordinance.
SECTION 5. That this contract is awarded in accordance with the relevant provisions of City Code Chapter 329 relating to grant agreements.
SECTION 6. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 7. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contract or contract modifications associated with this ordinance.
SECTION 8. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.