Explanation
BACKGROUND: The need exists to amend the City of Columbus Jobs Growth Incentive Agreement (the “JGI Agreement”) between the City of Columbus (“City”) and FlightSafety International, Inc. Columbus City Council (“Council”), per Ordinance No. 1987-2021, passed July 26, 2021, authorized the Director of the Department of Development of the City to enter into a dual-rate Jobs Growth Incentive Agreement with FlightSafety International, Inc. equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on 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, both for a term up to five (5) consecutive years, based on a total project investment of approximately $900,000.00 to relocate their headquarters (“HQ”). The proposed HQ would be located at 3100 Easton Square Place, Columbus, Ohio 43219, parcel number 010-282381 (the Project Site”). Additionally, FlightSafety proposed to create approximately one hundred and thirteen (113) net new full-time permanent positions with an annual payroll of approximately $10,130,000.00 and retain thirty-two (32) full-time positions with an annual payroll of approximately $6,784,416.00 at the Project Site. The JGI Agreement was made and entered into effective December 10, 2022 with the incentive term to begin in 2022 through January 1, 2026.
Prior to the execution of the Agreement, the Department of Development was notified that the Project Site had changed to 3100 Easton Square Place, Columbus, Ohio 43219, parcel number 010-282381. Ordinance No. 0825-2022, passed March 28, 2022, amended the Project Site.
Paragraph four within Section 15 (Miscellaneous) of the JGI Agreement states, “No amendment or modification shall be effective unless in writing and signed by both parties to this agreement. Any requested amendment or modification to an...
Click here for full text