Explanation
BACKGROUND: The need exists to enter into a Municipal Jobs Creation Tax Credit Agreement with e-Play, LLC (e-Play). The Ohio Jobs Creation Tax Credit law (O.R.C. Section 718.158) requires the City to enter into a Council-approved agreement between the City and participating companies.
Founded in 2005, e-Play focuses on the manufacture, distribution, and technological support of their kiosk-based DVD vending equipment. Currently in the infancy of its expansion, the company has been in the planning and developing stages of its business. Using patent-protected technology e-Play's machines are able to deliver recently released and cataloged DVD movies via freshly burned DVDs to customers in less than 30 seconds. e-Play promotes this system as a compact entertainment store (the kiosk has a 3 foot x 3 foot footprint) ultimately allowing a business to offer a choice to customers of over 1,000 titles. e-Play machines will be located in drug stores, gas stations, restaurants, big box retailers and other similar locations. Current central Ohio kiosk locations include four Meijer stores, two Wendy's restaurants, and at Port Columbus in Terminals A. B, and C.
Due to business expansion, the company is proposing to relocate their operations from their current 12,000 square foot facility in Prospect, Ohio to a more efficient 13,000 square foot space at 1177 Olentangy River Road in Columbus. This facility will allow for future company growth.
The project will result in a total capital investment of $11,600,000, the retention and relocation of 17 full-time and 11 part-time employees, and the creation of 119 new full time permanent positions.
The Department of Development recommends a 65%/8 year Jobs Creation Tax Credit.
This legislation is presented as an emergency in order to allow e-Play, LLC to begin investing and creating jobs as quickly as possible.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize ...
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