Explanation
BACKGROUND: The need exists to amend the Jobs Growth Incentive Agreement between the City of Columbus (“CITY”) and Goosehead Insurance Agency, LLC (the “GRANTEE”). Columbus City Council (“COUNCIL”), by Ordinance No. 0750-2021, passed April 5, 2021, authorized the Director of the Department of Development of the CITY to enter into a dual-rate Jobs Growth Incentive Agreement (the “AGREEMENT”) for an annual cash payment 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 six (6) consecutive years. Should the GRANTEE not be able to sufficiently document residency for a new employee associated with this project during a calendar year of the term of the AGREEMENT, the default rate of the Jobs Growth Incentive to be applied that calendar year for that new employee shall be twenty-five percent (25%). The financial incentive was granted in consideration of the GRANTEE’s total proposed investment of approximately $1,335,000.00, which included $825,000.00 in leasehold improvements, $180,000.00 in machinery and equipment, and $330,000.00 in furniture and fixtures to expand its operations at 4131 Worth Avenue, Columbus, Ohio 43219, parcel number 010-298178 (the “PROJECT SITE”). Additionally, the GRANTEE committed to create sixty (60) net new full-time permanent positions with an annual payroll of approximately $4,600,000.00 to support its growth (the “PROJECT”). The AGREEMENT was made and entered into effective May 17, 2021 with the incentive term to begin January 1, 2022 through December 31, 2027 for a 6-year credit.
In an electronic communication from the GRANTEE’s general counsel, received by the Department of Development dated April 25, 2025, and through ensuing correspondence,...
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