Explanation
BACKGROUND: The need exists to enter into a Jobs Creation Tax Credit Agreement with Dot Two Entertainment, Inc. and Guardian Business Services, Inc. The Ohio Tax Credit Legislation (Section 718.15 of the Ohio Revised Code) authorizing such agreements became effective January 14, 1993 and requires the City to enter a Council-approved agreement between the City and a participating company.
The Department of Development is proposing to enter into a Jobs Creation Tax Credit Agreement with Dot Two Entertainment, Inc. and Guardian Business Services, Inc. Contingent on the City granting a Jobs Creation Tax Credit, Dot Two Entertainment, Inc. and Guardian Business Services, Inc. will expand and renovate its corporate headquarters and launch its' new digital network by investing $4.0 million in leasehold improvements and personal property, retain 35 full-time employees, create 13 new permanent full-time positions with an annual payroll of $526,500, and increase job opportunities as well as strengthen the economy of the city.
Dot Two Entertainment, Inc., founded in 2001, is a digital broadcast television company. Guardian Business Services, Inc. is a professional employer organization that serves as a HR outsourcing solution, mainly to small (less than 150 employees) companies. Both entities are subsidiaries of the parent company, Guardian Enterprise Group Inc., which is a privately held company headquartered in Columbus Ohio. The company's founder is Ricard Schilg, current President and CEO. The company is proposing to renovate and expand its corporate headquarters to accommodate the launch of the .2Network, a nationwide digital network station and to expand its' studio operations, which will manage content production, creating commercials and original televisions programs.
The State has offered a Jobs Creation Tax Credit of forty-five (45%) for five (5) years and a $20,000 Rapid Outreach Grant for Dot Two Entertainment, Inc. and Guardian Busine...
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