Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive with Eloquii Design, Inc.
Eloquii Design, Inc. is an independently owned e-commerce company based in Columbus, OH and New York, NY, that designs and sells contemporary apparel for women sizes 14-24. Catering to a fashion-savvy consumer shopping for trend-right styles from the runway, Eloquii Design, Inc. currently ships to the US and Canada.
Eloquii Design, Inc. is proposing to relocate operations from 4449 Easton Way, Columbus, Ohio 43219 and lease, renovate, and equip approximately 4,000 square feet of existing office space located at 2 Miranova Place, Columbus, Ohio 43215. The company will invest approximately $60,000 towards leasehold improvements and an amount to be determined related to furniture acquisition, retain and relocate 6 full-time positions, and create approximately 40 new full-time permanent positions with an associated annual payroll of approximately $4.51 million.
Eloquii Design, Inc. would qualify for the Columbus Downtown Office Incentive in an amount equal to fifty percent (50%) of the payroll taxes paid on the new positions or approximately $281,911 over a term of up to five (5) years. The Columbus Department of Development recommends granting the Columbus Downtown Office Incentive to Eloquii Design, Inc.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Columbus Downtown Office Incentive Agreement with Eloquii Design, Inc. as provided in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007.
Body
WHEREAS, the City desires to increase employment opportunities and encourage establishment of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, authorized the Department of Development to establish th...
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