Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Prime Equipment Group, Inc., Prime Property Group, LTD, and Prime Leasing Group, LTD (hereinafter collectively “Prime Equipment”) 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, both for a term of up to five (5) consecutive years.
Prime Equipment Group, Inc. is a Columbus-based manufacturer of poultry processing equipment. Founded in 1992, Prime Equipment Group is a privately held company that was started, and is still run by, the Gasbarro family, which has owned and operated poultry plants and poultry-processing businesses for more than 65 years. Prime Equipment Group designs and builds stand-alone machines, as well as customized equipment systems and equipment from brand partners for processing plants all over the world. The company also offers helpful engineering assistance, hands-on field support, and a quality selection of spare and replacement parts for multiple industries in over 15 countries.
Prime Equipment Group, Inc., the operating company and employer of record, is proposing to relocate their operations from 2000 East Fulton Street, Columbus, Ohio 43205 to 2001 Courtright Road, Columbus, Ohio 43232 (“Project Site”) to proceed with an expansion of operations. As part of this expansion, Prime Property Group, LTD, a related entity, is expected to purchase the 228,935-square-foot building to house fabrication and administrative operations. Another related entity, Prime Leasing Group, LTD, is expected to equip and furnish the Project Site. All three entities collectively are hereinafter referred to as Prime Equipment.
In total, the proje...
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