Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Carr Supply, Inc. The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
Carr Suppy, Inc., a manufacturing company, was founded in 1917 by Charles Carr. The business, formally known as CE Carr, manufactured live stock water equipment. At that time it was located on North 3rd Street. It later moved in the mid 1930's to 49 East Naghten (now Nationwide Blvd.). At that time the business started distributing plumbing supplies. In 1874 Carr Supply, Inc. began distribution of HVAC supplies and equipment. The company now has 8 locations throughout Central Ohio with its primary distribution facility located at 1415 Old Leonard Avenue.
Carr Supply, Inc. plans to expand their existing warehouse to accommodate growth. The project will include an investment of $2.3 million, the creation 7 new full-time permanent jobs and the retention of 51 permanent full-time jobs.
The Department of Development recommends a 65%/7-year Enterprise Zone tax abatement on real property improvements. This proposal is consistent with the Columbus Tax Incentive Policy under Central City projects.
The Columbus City Schools have been advised of this project.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into an Enterprise Zone Agreement with Carr Supply, Inc. for a tax abatement of sixty five percent (65%) for a period of seven (7) years on real property improvements in consideration of a proposed investment of $2.3 million, the creation of seven (7) new permanent full-time positions and the retention of fifty one (51) permanent full time jobs.
Body
WHEREAS, the Columbus City Council authorized the designation of the Enterprise Zone by legislation, Ordinance Number 779-85, dated A...
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