Explanation
BACKGROUND: This legislation authorizes the payments to employers who have met the requirements of their Jobs Growth Incentive Program (JGI) agreement and are eligible for payment for the 2024 reporting (tax) year.
For tax year 2024 (also calendar year and/or report year), the City of Columbus had a total of fourteen (14) JGI agreements for which employers have met the requirements of their JGI agreements and thus are eligible to receive their benefit payments for calendar year 2024. The total dollar amount to be disbursed for these fourteen (14) 2024 JGI payments is $5,840,497.76. The fourteen (14) agreements with the JGI payment subtotals are as follows: (1) $373,616.65 to CoverMyMeds LLC; (2) $77,488.77 to FlightSafety International, Inc.; (3) $2,469.01 to Goosehead Insurance Agency, LLC; (4) $8,232.62 to Hollingsworth Logistics Group, LLC et al.; (5) $1,500,000.00 to Nationwide Children's Hospital, Inc.; (6) $84,176.87 to Northwest Bank; (7) $2,551,864.59 to OhioHealth Corporation et al.; (8) $93,970.33 to Root, Inc.; (9) $12,326.18 to Safecor Health, LLC; (10) $691,307.96 to Sarepta Therapeutics, Inc.; (11) $57,187.64 to Slalom, LLC; (12) $205,690.31 to Upstart Network, Inc.; (13) $78,017.06 to Wells Fargo (14) $104,149.77 to Williams Lea Inc.
Tax year 2024 (also calendar year and/or report year) is the first report year (RY) for Wells Fargo. This is the last reporting year for Northwest Bank, Root, Inc., and Upstart Network, Inc.
Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Jobs Growth Incentive Program agreements.
FISCAL IMPACT:
The 2025 General Fund budget (citywide account) includes funding for these payments. An amount equal to 25 percent (25%) of the payment will be expended from the Income Tax Set Aside Subfund.
Title
To authorize the City Auditor to appropriate the sum of $1,460,124.44 within the General Fund Income Tax Set Aside Subfund; to authorize the City Aud...
Click here for full text