Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with V&S Columbus Galvanizing LLC, Voigt & Schweitzer LLC and Hill & Smith, Inc. The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
The project involves three separate entities that include: V&S Columbus Galvanizing LLC (V&S) - (galvanizing operation), Voigt & Schweitzer LLC (new operation involved in production of concrete barriers) and Hill & Smith, Inc. (Corporate Headquarters). V&S began operations in Germany in 1893 and today operates over 30 galvanizing plants in the United States and Europe (with 6 galvanizing locations in the U.S.) V&S has been involved in many projects - large and small - where hot dip galvanizing was the corrosion protection method of choice for major highways, professional sports stadiums, bridges, architectural buildings, railing, fasteners and the like.
V&S, Voigt & Schweitzer LLC and Hill & Smith, Inc. are proposing to construct a brand new facility directly across the street from its existing south side facility on Buckeye Park Rd. The project will also involve the acquisition of machinery, equipment, furniture and fixtures. A total capital investment of $10 million is proposed at the site, with $6.4 million toward building construction and $3.6 million for equipping the facility to meet the needs of all three entities. A total of 4 new full-time positions will be created as a result of the project and 74 full-time jobs will be retained (55 from V&S, 7 from Hill & Smith, Inc. and 12 from Voigt & Schweitzer LLC). The new site will allow for greater efficiencies in the workflow of the galvanizing process.
The Department of Development recommends a 75%/10-year Enterprise Zone tax abatement on real property improvements. This proposal is consistent with the Columbus Tax Incentive Policy under Central City projects.
The Columbus Ci...
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