Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Total Quality Logistics, LLC equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. Total Quality Logistics, LLC will make an investment of approximately $125,000.00, including renovations, furniture and fixtures, create 40 new full-time permanent positions and retain 40 existing jobs in the City of Columbus.
Total Quality Logistics, LLC was founded in 1997 by Ken Oaks and is the nation's 3rd largest freight brokerage firm. For over 14 years, Total Quality Logistics, LLC has specialized in arranging the transportation of full truck load shipments for thousands of companies across the country and various industry segments. The company has more 1,500 logistics professionals that facilitate the movement of over 500,000 truckload shipments each year for more than 7,000 shipping customers. Total Quality Logistics, LLC is headquartered in Cincinnati, Ohio with satellite offices in Charleston, Chicago, Cleveland, Columbus, Dayton, Denver, Erlanger, Indianapolis, Lexington, Louisville and Tampa.
Total Quality Logistics, LLC is proposing to expand its current business operation by entering into a long-term lease agreement on a vacant office space consisting of approximately 12,815 square feet, located at 640 S. Front Street, to meet its increased growth and consumer demand.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Jobs Growth Incentive Agreement with Total Quality Logistic, LLC equal to twenty-five percent (25%) of the amount of new income tax withheld on employees for a term of five (5) years in consideration of the company's proposed investment of $125,000.00 the creation of 40 new full-time permanent positions and the retention of 40 full-time jobs. (A...
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