Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Proform Industries, Ltd. equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. Proform Industries, Ltd. will make an investment of approximately $1,200,000 in leasehold improvements, which includes machinery and equipment, create 60 new full-time permanent positions and retain 58 existing jobs in the City of Columbus.
Proform Industries, Ltd is a privately held company headquartered in Muskogee, Oklahoma. The company is one of North America’s leading manufacturers and Tier 1 suppliers of fuel tanks, air tanks, battery boxes and related assemblies to the commercial vehicle industry. The company has three locations: Muskogee, Oklahoma, Monterrey, Mexico and its’ Columbus, Ohio facility where it manufactures a range of products including aluminum fuel tanks, Class A aluminum panels, step assemblies and clutch pedals, battery box assemblies and small chassis components. The company recently made a corporate decision to close its’ Texas facility and expand its operation in Ohio or Oklahoma.
Proform Industries, Ltd is proposing to expand its current facility located at 1715 Georgesville Road, to meet its anticipated 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 Proform Industries, Ltd. 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 $1,200,000.00, the creation of 60 new full-time permanent positions and the retention of 58 full-time jobs.
Body
WHEREAS, the City desires to increase employment opportunities and encourage the creation of new jobs in the City in ord...
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