Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Davenport Aviation, Inc. in an amount equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the 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, for a term of up to five (5) consecutive years.
Founded in 2009, Davenport Aviation, Inc. is a broker and distributor of aviation parts for airlines around the world, a player in a U.S. industry that saw about $44 billion in revenue in 2017. CEO João Simões immigrated to the U.S. from Brazil in 2001 working as a painter and floor installer, who began working for an aviation parts company in Washington, DC, providing him the industry knowledge to eventually start his own firm in Columbus, Ohio. Davenport Aviation, Inc. quickly excelled as a small business in a competitive field, and hired their first new employee in 2012 growing to 17 currently. They have significantly increased their international client base and become a Hub Zone certified supplier to the U.S. government. Ohio has been a hub of activity in the aviation industry since the Wright Brothers, and Davenport Aviation, Inc. is a homegrown Columbus small business representing the city in the industry and around the world. With the addition of a new U.S. government contract, Davenport Aviation, Inc. needs to expand their workforce.
Davenport Aviation, Inc. is proposing to invest approximately $750,000 in real property improvements, $75,000 in furniture and fixtures, and $15,000 in technology to renovate its headquarters operation at 757 Adena Drive, Columbus, Ohio 43215, parcel number 010-129517. With this expansion, the company plans to renovate approximately 4,200 sq. ft. of their 8,400 sq. ft. facility to support ...
Click here for full text