Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Quantum Health, Inc. equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees to Columbus for a term of five (5) years. The company will invest approximately $3.4 million to expand square footage and acquire new machinery, equipment, furniture and fixtures at the facility at 7450 Huntington Park Drive, and to create 525 full-time permanent positions and retain 230 full-time permanent employees.
Quantum Health, Inc. was founded in 1999 by Kara Trott, after two years of extensive consumer research related to healthcare delivery. The company provides coordinated healthcare programs for self insured employee health benefit plans. The model developed by Quantum Health, Inc. helps clients and patients to better navigate the healthcare system in a manner that provides improved care and lower costs. Quantum Health, Inc. has 230 existing employees at the site in north Columbus. They are currently leasing several floors of the facility. Due to rapid growth, the company has outgrown its existing 53,400 square feet of space at the site.
The project involves the lease of an additional 41,888 square feet at 7450 Huntington Park Drive in Columbus. The company plans to expand operations at the project site witha fixed-asset investment of approximately $3.4 million for equipment, furniture and fixtures. Quantum Health, Inc. will retain 230 full-time permanent positions and create 525 full-time permanent positions.
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 Quantum Health, Inc. equal to twenty-five percent (25%) of the amount of new income tax withheld on employees for a term of five (5) years in consideration of the company's proposed investment of $3.4 millio...
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