Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Williams Lea, Inc. (“Williams Lea”) in an amount equal to (i) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty-five percent (35%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents at the end of each calendar year, for a term of up to five (5) consecutive years.
Williams Lea is a global company that offers Business Support Services to large financial, legal and professional services firms. The company was founded in 1820 and is headquartered in New York City. Williams Lea began as a financial printer and has expanded into a global organization which specializes in delivering skilled business support and document solutions for some of the largest and most recognized companies around the world. The company has 7,000 employees and a presence in 195 cities across 40 countries. Williams Lea serves clients onsite at their offices and through several virtual delivery centers located in Wheeling, WV, Normanton, UK and Chennai, India. William Lea Holdings Inc. is the parent company of Williams Lea and is backed by Advent International, one of the largest and most experienced global private equity investors with offices in four continents: Asia, Europe, Latin America and North America.
Williams Lea is proposing to invest a total project cost of approximately $6,000,000 which includes $4,000,000 in leasehold improvements, and $2,000,000 in furniture and fixtures to establish a new operations center within the Columbus Region. With this new operations center, the company proposes to enter into a long-term lease agreement on a vacant office space consisting of approximately 60,000 square feet located at 671 S. High Street, Columbus, Ohio 43215, parcel number 010-014149 (the “Project Si...
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