Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Koorsen Fire & Security, Inc. in an amount equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents at the end of each calendar year, for a term of up to five (5) consecutive years.
Koorsen Fire & Security, Inc. was founded in 1946 by Mr. and Mrs. Robert Stroup as Indiana Fire Prevention and Service Company, a servicer of fire extinguishers. The husband and wife tandem began working out of their garage to refill fire extinguishers. The company changed hands in 1954, when the Stroups’ daughter and son-in-law, Jane and George Koorsen, took over and continued the tradition of diligence in all facets of the business. Their son Randy Koorsen eventually became president in 1984 and renamed the company Koorsen Protection Services, Inc. Randy’s leadership brought tremendous growth to the company, expanding it into six states within the Midwest and Southeast while increasing the scope of service by acquiring security operations and adding fire products, sprinkler systems, and engineered fire suppression systems. In 2004, the company became Koorsen Fire & Security, Inc. to better reflect its wider focus. Today, Koorsen Fire & Security, Inc. is a market leader in robust fire alarm systems complete with sprinkler and suppression integration, and business security alarms that have safeguarded both small and large businesses in Columbus for decades. The company has over 30 plus locations and is a recognized leader in loss prevention.
Koorsen Fire & Security, Inc. is proposing to invest approximately $750,000 in real property improvements to expand its Columbus Regional Operations Headquarters/Distribution Center a...
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