Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with CKE Management, LLC in an amount 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 five (5) consecutive years.
Founded in 2017, CKE Management, LLC was established to deliver unparalleled cookies, gifts, and experiences to corporate and retail customers. The founding team, led by Cheryl Krueger, has more than 50 years of experience in manufacturing and baked goods. The company will sell a variety of baked goods and gifts manufactured at the project site through select retail locations, online sales, and direct corporate sales.
CKE Management, LLC is proposing to invest approximately $250,000 in real property improvements, $500,000 in machinery and equipment, $20,000 in furniture and fixtures, $10,000 in technology, and $2,000,000 in inventory to further establish and renovate its manufacturing and headquarters operation at 6845 Commerce Court Drive, Columbus, Ohio 43004, parcel number 010-229132. At this location, the company plans to renovate an approximately 30,182 sq. ft. facility into a food grade manufacturing facility and headquarters. Additionally, CKE Management, LLC will retain 12 full-time jobs with an annual payroll of approximately $1,015,000 and create 20 new full-time permanent positions with a cumulative estimated annual payroll of approximately $1,098,240 to support its growth.
CKE Management, LLC is requesting a dual-rate Jobs Growth Incentive from the City of Columbus to assist in the expansion of this project. This legislation is presented as 30 day legislation.
FISCAL IMPACT: No funding is required for this legislatio...
Click here for full text