Explanation
BACKGROUND: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Simonton Windows, Inc. (Simonton) equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees to Columbus for a term of seven (7) years. The company will invest approximately $1.1 million to establish its corporate headquarters at 3948 Townsfair Way, and retain and relocate 49 jobs which are all new full-time permanent jobs to Columbus, and create 46 new full-time permanent positions.
Simonton produces vinyl-replacement and new construction windows and patio doors. The company was founded in 1946 by Fred and Sybil Simonton and was originally called Pen Vent Awning. Simonton now markets its product lines using brand names such as Simonton Impressions, Reflections by Simonton and Prism by Simonton. Its customers include wholesale distributors, builders, architects and home centers such as The Home Depot and Lowe's.
Simonton is proposing to relocate its corporate headquarters from West Virginia to the City of Columbus by leasing and renovating 18,498 square feet at 3948 Townsfair Way to meet its increased growth and consolidate corporate functions. The new corporate facility will house sales, operations staff, finance, human resources, and new product development. Simonton will enter into a ten (10) year lease term.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Jobs Growth Incentive Agreement with Simonton Windows, Inc. equal to twenty-five percent (25%) of the amount of new income tax withheld on employees for a term of seven (7) years in consideration of the company's proposed investment of $1.1 million, the creation of 46 new permanent full-time positions and the relocation and retention of 49 existing jobs, which will be new to the City of Columbus.
Body
WHEREAS, the City desires t...
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