Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with Big Lots, Inc. The Ohio Tax Credit law (Section 718.15 of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
Big Lots, Inc. is a Columbus, Ohio-based Fortune 500 retailer that can trace its history back to 1967 when Sol Shenk founded Consolidated International, Inc. Today, Big Lots, Inc., through its wholly owned entities, is a unique, non-traditional, discount retailer operating 1,449 Big Lots stores in 47 states with product assortments in the merchandise categories of food, consumables, furniture & home décor, seasonal, home goods, and electronics & accessories.
As part of the new Hamilton Quarter development, a 330-acre mixed-use district at Hamilton Road and State Route 161, Big Lots, Inc.’s development partner, Hamilton Crossing BL LLC, proposes to construct a new approximately 300,000-square-foot corporate office campus and one or more associated parking structures at the southwest quadrant of State Route 161 and Hamilton Road. This corporate campus will be the future corporate headquarters facility for Big Lots, Inc. and will be leased to Big Lots, Inc. or one of its affiliates. The campus will comprise approximately 25 acres and all or part of parcels 010-286113; 010-286114; 010-221377; 010-280216; and 010-247887 within the City of Columbus in Franklin County.
Big Lots, Inc. will retain and relocate 750 full-time permanent positions with an associated annual payroll of $65,000,000 from their current headquarters located at 300 Phillipi Road Columbus, Ohio 43228 to the Hamilton Quarter project site and create 5 new full-time permanent positions at this new corporate campus with an associated new annual payroll of approximately $362,500. Additionally, Big Lots, Inc. will retain 357 existing full-time permanent distribution center positions with an associated annual payroll of $14,...
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