Explanation
BACKGROUND: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Safelite Group, Inc. equal to thirty-five percent (35%) of the amount of personal income tax withheld on new employees to Columbus for a term of five (5) years. The company will invest approximately $48,400,000, create 350 new full-time permanent positions and retain 1,064 existing employees.
Safelite Group, Inc. was established in Delaware in 1947 and has become a provider of auto glass repair and replacement services nationwide. Safelite Group, Inc. has experienced significant growth in recent years and their current facility no longer meets their long-term growth requirements. The company conducted a multi-state search and determined their Columbus site to be viable for expansion with significant reconfiguration and improvement.
Safelite Group, Inc.’s proposed plan in the City of Columbus would include the renovation and reconfiguration of existing office space at the current site (2400 Farmers Drive) and an adjacent building (2500 Farmers Drive). Total project investment of $48,400,000 including $14,400,000 in machinery & equipment, $14,000,000 for furniture & fixtures, $14,000,000 for computers, and $6,000,000 in leasehold improvements. A total of 1,414 employees will occupy the new space of which 1,064 will be retained and 350 will be new full-time employees.
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 Safelite Group, Inc. equal to thirty-five percent (35%) 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 $48,400,000.00, the creation of 350 new full-time permanent positions and the retention of 1,064 full-time permanent existing jobs.
Body
WHEREAS, the City desires to increase employment opportunities and ...
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