Explanation
BACKGROUND: The 2008 Columbus Tax Incentive Review Council (TIRC) reviewed the Superior Production Partnership Enterprise Zone project on August 19, 2008, and recommended that the City should consider amending the Enterprise Zone Agreement (EZA) between the City and Superior Production Partnership (EZA# 023-03-09) to allow contract workers at the project site to be counted towards the full time job creation commitment set forth in the EZA.
Columbus City Council approved the EZA by Ordinance No. 1696-2003, adopted July 14, 2003. City Council approved the first amendment to the Superior Production Partnership (Enterprise) EZA on October 16, 2006 by Ordinance No. 1785-2006. As amended, the EZA grants a 60%/7-Year abatement on real property improvements and personal property investment with a commitment of $2.22 million in real property improvements, $1.654 million in personal property investment, the retention of 129 full-time jobs, and the creation of 24 new permanent full-time jobs related to the construction of an approximately 79,000 square foot facility located at 2301 Fairwood Avenue to accommodate the addition of a hood line (replacement hoods for the automotive aftermarket) to their operation within the Columbus Enterprise Zone.
Enterprise has satisfied the real and personal property investment goals but negative market conditions stemming from an offshore price fixing scheme coordinated by a number of foreign companies have hampered the ability of the Enterprise to meet their job creation and retention requirements. The job creation timeframe runs to the end of 2009 with a job creation goal at that time of 24 new permanent full-time jobs. As of December 2007, Enterprise had created 1 job, 7 jobs short of the interim end-of-2007 goal of 8 (13% attainment), and had retained 117 jobs, 12 jobs short of the retention goal of 129 (91% attainment), for an overall level of 118 jobs, 19 jobs short of the overall (interim) goal of 137 (86% attai...
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