Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Barkbox, Inc. in an amount equal to (i) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty-five percent (35%) 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, both for a term up to five (5) consecutive years.
Barkbox, Inc. (Barkbox) was launched in 2012 with a monthly themed subscription of all-natural treats and clever toys. Today they reach over 1.8 million dogs every month and have expanded into new product categories and thousands of retail locations. They are the only brand that serves dogs in four key categories: Fun, Food, Health and Home, and exclusively designs and develops every single product. Whether through subscriptions and direct-to-dog-person channels, utilizing online marketplaces like Amazon, or showcasing product through a growing network of retailers, Barkbox obsesses over best-in-show customer experiences and providing every dog with joy.
Barkbox is proposing to invest approximately $150,000 in leasehold improvements to expand its operations by leasing at least 11,000 square feet at 500 West Broad Street, Columbus, Ohio 43065, parcel number 010-002012 (the “Project Site”). Additionally, Barkbox will create 400 net new full-time permanent positions with a cumulative estimated annual payroll of approximately $18,800,000 and retain 249 with an estimated annual payroll of $11,879,344 to support its growth. Barkbox is requesting a dual-rate Jobs Growth Incentive from the City of Columbus to assist with this expansion project. This legislation is presented as 30 day legislation.
FISCAL IMPACT: No funding is required for this legislation
Title
To authorize the Director of the Department of Development to enter into a dual-ra...
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