Explanation
BACKGROUND: The need exists to amend Ordinance 1208-2008, approved by Columbus City Council on July 14, 2008, and Ordinance 1518-2009, approved by Columbus City Council on November 23, 2009. Ordinance 1208-2008, as amended by Ordinance 1518-2009, authorized the Director of the Department of Development to enter into a Job Creation Tax Credit Agreement of sixty percent (60%) for a period of five (5) years with Bardwil Industries, Inc. Two additional amendments are now necessary to allow Bardwil Industries, Inc.'s payroll company, VSS, LLC to become a third party in the agreement and to extend the 90 day period required to execute the Jobs Creation Tax Credit Agreement with Bardwil Industries, Inc. VSS, LLC will be the employer of record for Bardwil Industries.
Bardwil Industries, Inc. manufactures and distributes table linen as well as kitchen textiles. The company was established in the early 1900's by Elias Bardwil. Bardwil Industries, Inc. is the largest and broadest based table linen in the United States importing an assortment of products from various nations including India, China, Taiwan and Spain. Bardwil Industries is headquartered in New York City and has relocated its distribution center from Jersey City, New Jersey to Columbus.
Bardwil Industries Inc. invested approximately $9.5 million in personal property and created 40 new permanent full-time jobs to relocate its distribution center from Jersey City, New Jersey to Columbus. The State has offered a Job Creation Tax Credit of 45% for 5 years and a $20,000 grant for Bardwil Industries, Inc.
FISCAL IMPACT: No funding is required for this legislation.
Title
To amend Ordinances 1208-2008 and 1518-2009 to add VSS, LLC as a third party to the Job Creation Tax Credit Agreement with Bardwil Industries, Inc. and to extend the 90 day period required to execute the Job Creation Tax Credit Agreement.
Body
WHEREAS, on July 14, 2008, Columbus City Council passed Ordina...
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