Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Ultimus Fund Solutions, LLC equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees to Columbus for a term of up to five (5) years.
Ultimus Fund Solutions, LLC (Ultimus Fund Solutions) provides mutual fund services to small-and medium-sized fund groups including organizational services, fund accounting and administration, transfer agent and shareholder services. The company, which opened in 1999 in Cincinnati, has invested heavily in technology and innovation to better service its clients while opening offices in Indianapolis, Indiana and Columbus, Ohio. Ultimus Fund Solutions’ workforce includes accountants, attorneys, paralegals and other investment industry professionals to provide middle and back office services for open and closed-end funds, business development organizations, separately management accounts, private accounts and other investment products. The company received the highest overall score for a mutual fund provider in a 2015 Mutual Fund Administration Survey given by Global Custodian.
Ultimus Fund Solutions, LLC is proposing to invest approximately $200,000 in leasehold improvements, which includes machinery and equipment, to expand its Columbus operations. The company will enter into a lease agreement on a vacant commercial office space consisting of approximately 11,900 square feet at Two Easton Oval, Suite 300 Columbus, Ohio, 43219, with first right of refusal on an additional 10,000 square feet. Ultimus Fund Solutions will retain 28 full-time positions with an associated annual payroll of approximately $2,127,962 and create 32 new full-time permanent positions with an associated new annual payroll of approximately $1,644,869, which will be new income tax revenue for the City of Columbus.
Ultimus Fund Solutions, LLC is requesting a Jobs Growth Incentive from the City of...
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