Explanation
BACKGROUND: The need exists to amend the Jobs Growth Incentive Agreement with DSW Inc., DSW Shoe Warehouse, Inc., eTailDirect LLC, DSW Information Technology LLC and Brand Card Services LLC (collectively known as “DSW” and hereinafter referred to as the “Grantee”). Ordinance 1884-2012, approved by Columbus City Council on September 24, 2012, granted a twenty-five percent (25%) five (5) year Jobs Growth Incentive based on the commitment to expand its corporate headquarters and distribution fulfillment centers by investing approximately $17 million, including $14 million in new machinery and equipment, $3 million in new construction and create approximately 200 new full-time permanent positions with an estimated annual payroll of $10 million at 810 DSW Drive, the company’s corporate headquarters, 4150 and 4314 E. Fifth Avenue, the company’s distribution centers.
An amendment is now required to add the following affiliates of DSW as grantees to the Agreement: DSW Leased Business Division LLC and 810 AC LLC. Therefore, DSW Inc., DSW Shoe Warehouse, Inc., eTailDirect LLC, DSW Information Technology LLC, Brand Card Services LLC, DSW Leased Business Division LLC, and 810 AC LLC, (henceforth, all seven entities will collectively be referred to hereinafter as “DSW”), will become the new grantees on the amended Jobs Growth Incentive Agreement.
This legislation is requested to be considered as an emergency in order to allow DSW to begin investing and creating jobs as quickly as possible.
FISCAL IMPACT: No funding is required for this legislation.
Title
To amend the Jobs Growth Incentive Agreement with DSW Inc. et al, for the purpose of adding DSW Leased Business Division LLC and 810 AC LLC as grantees to the Agreement; and to declare an emergency.
Body
WHEREAS, on September 24, 2012, Columbus City Council passed Ordinance 1884-2012 for a five (5) year, twenty five percent (25%) Jobs Growth Incentive for DSW Inc., DSW Shoe Warehouse, Inc., eTailDi...
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