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 c...
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