City of Columbus - File #: 1163-2006

• File #: 1163-2006
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 6/16/2006
• In control: Jobs and Economic Development Committee
• On agenda: 6/26/2006
• Final action: 6/28/2006
• Title: To authorize the Director of the Department of Development to enter into a Technology Growth Incentive agreement with Ohio State University Physicians, Inc. equal to 30% of the growth of the company's City of Columbus withholding tax paid by the retention of existing employees and for new employees for a period of ten years. ; and to declare an emergency.

Date	Ver.	Action By	Action	Result
6/28/2006	2	CITY CLERK	Attest
6/27/2006	2	MAYOR	Signed
6/26/2006	1	Columbus City Council	Amended to 30 day	Pass
6/26/2006	2	Columbus City Council	Waive the 2nd Reading	Pass
6/26/2006	2	Columbus City Council	Approved as Amended	Pass
6/26/2006	2	COUNCIL PRESIDENT	Signed
6/22/2006	1	CITY ATTORNEY	Sent to Clerk's Office for Council
6/20/2006	1	City Clerk's Office	Sent back for Clarification/Correction
6/20/2006	1	CITY ATTORNEY	Sent to Clerk's Office for Council
6/19/2006	1	CITY ATTORNEY	Reviewed and Approved
6/19/2006	1	Dev Drafter	Sent to Clerk's Office for Council
6/16/2006	1	Dev Drafter	Sent for Approval
6/16/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/16/2006	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND:
Ohio State University Physicians, Inc. (OSUP) is a non-profit corporation that has been designated as the exclusive faculty practice plan for The Ohio State University College of Medicine. OSUP shares the mission of the OSU Medical Center to improve people's lives through innovation in research, education and patient care.

OSUP currently employees about 1,200 individuals in multiple communities. OSUP has been engaged in a process to identify a location for its headquarters as well as to effect a consolidation of operations in Central Ohio and has decided to remain and expand at Ackerman Road, subject to the technology incentives from the City of Columbus. As part of this decision, OSUP anticipates retaining 100 employees at its location on Ackerman Road, the relocation of 50 employees from Dublin and growth of an additional 50 by the end of next year. OSUP also projects new job creation of 120 new positions over the next ten years.

After engaging in a site search, OSUP identified a site outside of the City of Columbus and away from the Technology Corridor. OSUP desires to be a major anchor of the Ohio State Research and Technology Corridor. The corridor focuses significant institutional, employment, research and clinical investment and stresses the medical programs affiliated with The Ohio State University as a major asset.

The City of Columbus desires to facilitate OSUP's future growth by retaining current employment and the creation of new jobs at this location for the maintenance of the corporate headquarters and for future locations throughout the City of Columbus through a technology corridor growth incentive agreement.

In consideration of OSUP's retention of jobs within the City of Columbus with a base 2005 payroll estimated at $64,631,742, and OSUP's stated desire to increase the number of jobs and payroll subject to City of Columbus income taxes, the City of Columbus will offer a Technology Growth Incentive (TGI...