Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with F. I. Industries, Inc. and Franklin International, Inc. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
Established in 1935, Franklin International, Inc. (“Franklin International”) is a privately held manufacturer of adhesives and sealants. Franklin International’s Adhesives and Polymers Division provides wood adhesives, pressure sensitive adhesives, and specialty polymers for industrial manufacturers of wood products, labels, fiberglass, non-wovens, and more. The company’s Construction Building Products Division provides Titebond glues, adhesives, and sealants for use in woodworking, general repairs, home construction, and flooring installation.
Franklin International, Inc., the site operator, together with F. I. Industries, Inc. (“F. I. Industries”), the property owner and a wholly-owned subsidiary of Franklin International, Inc., is proposing to redevelop an underutilized parcel within their more than 25-acre industrial campus (“Campus”) in south Columbus into an approximately 12,300-square-foot Polymer Research & Development Center to be located at 145 Hosack Street Columbus, Ohio 43207 (parcel number 010-270616-00) (“Project Site”). Franklin International is considering the development of an on-site Polymer Research & Development Center in order to further strengthen its market position and allow for large-scale testing and development. Furthermore, it is thought to be a boon to attract top-tier international technical talent by affording the use of the latest technology related to polymer and adhesive development, thereby creating an opportunity to showcase the company’s products and capabilities.
Franklin International expects to invest a total of approximately $3,369,800 to construct and equip the Center, of which approximately $2,2...
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