Explanation
BACKGROUND: The purpose of this ordinance is to authorize the Director of the Department of Development to apply to the Ohio Department of Development for a $500,000 roadwork grant for improvements to Stelzer Road to benefit the NetJets expansion at Port Columbus.
This request for authorization is part and parcel of an incentive package to allow NetJets to expand in Columbus. NetJets will invest an estimated $162 million to retain 1,931 full-time jobs at the project site and create an additional 810 new full-time jobs within three years.
Total infrastructure costs to accommodate the NetJets expansion will be approximately $30 million and will be shared by the City of Columbus, the Columbus Regional Port Authority and the State of Ohio.
This legislation is submitted as an emergency in order to meet the state roadwork grant application deadline.
FISCAL IMPACT: No funding is required for this legislation. There are no costs to apply for the state roadwork grant. If successful, the City will receive $500,000 to apply to Stelzer Road improvements.
Title
To authorize and direct the Director of the Department of Development to apply to the Ohio Department of Development for a $500,000 roadwork grant for Stelzer Road improvements to benefit the NetJets expansion at Port Columbus; and to declare an emergency. ($0)
Body
Whereas, NetJets desires to expand operations at Port Columbus; and
Whereas, NetJets proposes to invest an estimated $162 million to retain 1,931 full-time jobs and create an additional 810 new full-time jobs within three years; and
Whereas, infrastructure improvements in and around Port Columbus to accommodate the NetJets expansion are estimated to cost approximately $30 million; and
Whereas, the Ohio Department of Development invited the Columbus Department of Development to apply for a $500,000 roadwork grant to help facilitate improvements to Stelzer Road to benefit the NetJets project; and
Whe...
Click here for full text