Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Northern Safety Co., Inc. dba Wurth Industry North America in an amount equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents at the end of each calendar year, both for a term up to five (5) consecutive years.
Founded in 1983, Northern Safety Co., Inc. was established by CEO Salvatore Longo who began selling first aid supplies and gloves out of the back of a pickup truck; since then, they have become a prominent player in the safety equipment industry. In mid-2015 Northern Safety Co., Inc. has since been acquired by their current parent organization the Wurth Group. Established in 1954, Wurth was founded in Monsey, New York and has slowly carved its way to becoming the world’s largest industrial supplier with over 400 locations and over 86,000 employees worldwide. Family-owned and privately owned, Wurth has been able to ensure customers of security and confidence while continuing building close-knit relationships.
Northern Safety Co., Inc. is proposing to invest a total project cost of approximately $42,500,000.00, which includes $27,000,000.00 in acquisition costs, $14,500,000.00 in machinery and equipment, and $1,000,000.00 in furniture and fixtures to establish a new distribution facility. With this investment, the company proposes to enter into a lease agreement on an existing vacant industrial ware house consisting of approximately 472,000 square feet at 1568 Georgesville Road, Columbus, OH 43228, parcel number 570-291527 (the “Project Site”). The proposed project will allow Northern Safety Co., Inc. to expand into the Columbus region by creating 160 net new full-time permanent positions with ...
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