Explanation
BACKGROUND: The Department of Development is proposing to enter into a Columbus Downtown Office Incentive with KLH Engineers, PSC. KLH Engineers, founded in 1955, provides mechanical, electrical, plumbing, fire protection, lighting design, communication and information technology services, and commissioning. KLH has designed more than 8,000 projects both regionally and nationally for retailers, schools, universities, healthcare providers, municipalities, financial institutions and office facilities. Recently completed projects in Columbus include Electric Corporate Headquarters (LEED Gold Certification), and Teays Valley School District (LEED Silver Certified Elementary School). The company's headquarters are located in Ft. Thomas, Kentucky with a satellite office in Dayton, Ohio. The new positions will create approximately $840,000 in additional payroll and approximately $16,800 annually in City income tax revenue. Based on this estimate, KLH Engineers would qualify for the Columbus Downtown Office Incentive of an amount equal to fifty percent (50%) of the payroll taxes paid on the new positions or $8,400 each year for three (3) years. The Development Department recommends granting the Columbus Downtown Office Incentive program to KLH Engineers, PSC.
This legislation is required to be an emergency in order for KLH Engineers, PSC to begin investing and creating jobs as quickly as possible.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into a Columbus Downtown Office Incentive agreement with KLH Engineers, PSC as provide in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007; and to declare an emergency.
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, ...
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