Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit with Safelite Group, Inc. Section 718.15 of the Ohio Revised Code authorizing such agreements requires the City to enter a Council-approved agreement between the City and a participating company.
Safelite Group, Inc. was established in Delaware in 1947 and has become a provider of autoglass repair and replacement services nationwide. Safelite has experienced significant growth in recent years and their current facility no longer meets their long-term growth requirements. The company conducted a multi-state search and determined their Columbus site to be viable with significant reconfiguration and improvement.
Safelite’s proposed plan in the City of Columbus would include the renovation and reconfiguration of existing office space at the current site (2400 Farmers Drive) and an adjacent building (2500 Farmers Drive). Total project investment of $48,000,000 including $14,400,000 in machinery & equipment, $14,000,000 for furniture & fixtures, $14,000,000 for computers, and $6,000,000 in leasehold improvements. A total of 1,414 employees will occupy the new space of which 1,064 will be retained and 350 will be new full-time employees.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Job Creation Tax Credit Agreement of sixty-five percent (65%) for a period of eight (8) years with Safelite Group, Inc. in consideration of the company’s investment of $48,000,000 including $14,400,000 in machinery & equipment, $14,000,000 for furniture & fixtures, $14,000,000 for computers, and $6,000,000 in leasehold improvements and the creation of 350 new permanent full-time positions and retention of 1,064 existing positions.
Body
WHEREAS, pursuant to Section 122.17 of the Ohio Revised Code, the State of Ohio is authorized to establish the Tax Credit Authority and to execute agreements with taxpayers ...
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