Explanation
BACKGROUND: The need exists to amend Ordinance No. 2658-2021 (the “Ordinance”), approved by Columbus City Council on November 15, 2021. The Ordinance authorized the Director of the Department of Development to enter into a City of Columbus Jobs Growth Incentive Agreement (“the Agreement”) with NetJets Inc. (the “Grantee”). An amendment is now required to revise the 90-day window needed to execute the City of Columbus Jobs Growth Incentive Agreement, revise the project site and add three additional entities as grantees to the Agreement.
The Ordinance authorized the Director of the Department of Development to enter into a City of Columbus Jobs Growth Incentive Agreement for an annual cash payment 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 for a term of up to five (5) consecutive years on the estimated job creation of 154 net new full-time permanent positions with an annual payroll of $12,735,000 and the retention of 1,516 full-time permanent positions with an annual payroll of $126,231,635 to be located at 4111 Bridgeway Park, Columbus, Ohio 43219, parcel number 010-290126 (the “Project Site”).
Prior to the execution of the Agreement, in written communications received from the Grantee dated February 8, 2022 and March 10, 2022, the Department of Development was notified that the Project Site was incorrectly legislated with the wrong site address. The correct Project Site address should have been 4111 Bridgeway Avenue not 4111 Bridgeway Park, and that an additional location on the Grantee’s campus needs to be added to the Project Site. The Grantee will create and retain employees in two separate facilities that are jointly connected, but have two different addresses. Furthermore, three additional entities will part...
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