Explanation
BACKGROUND: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Apelles, LLC (Apelles) equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. Apelles will make a fixed-asset investment of approximately $505,000 including, $250,000 in new machinery and equipment and $200,000 in renovation and leasehold improvements, $55,000 in new furniture and fixtures, create 17 new full-time permanent positions and retain 29 existing jobs, which will all be new to the City of Columbus.
Apelles is a privately held company founded in 2003 by Michael E. Fitzmartin, President and CEO. Headquartered in Westerville, Ohio, Apelles is a leading provider of outsourced collections and customer service solutions nationwide. The company specializes in collections, accounts receivable management, and customer retention services. Apelles's customized service offerings range from welcome calls and fraud prevention programs through customer care, first party accounts receivable, and third party projects, as well as accounts receivable outsourcing services and debt recovery services.
Apelles is proposing to relocate its corporate headquarters and operations to the City of Columbus by entering into a 7-year lease agreement on a vacant office facility located at 3700 Corporate Drive to meet its increased growth and consumer demand.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into a Jobs Growth Incentive Agreement with Apelles, LLC 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 $505,000, the creation of 17 new permanent full-time jobs and the retention of 29 existing jobs, which will be new to the City of Columbus.
Body
WHEREAS, the City ...
Click here for full text