Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive with Print Syndicate, LLC.
Print Syndicate, LLC is a design, marketing, and technology company that functions in e-commerce, founded in November 2012 by Tanisha Robinson and Michael Limes. The company sells printed apparel on its website as well as other sites. The company focuses on creating timely, trending, well-designed niche content and then promotes it via social media.
Print Syndicate, LLC is proposing to relocate and expand its corporate headquarters from the Clintonville area into the downtown business district by entering into a lease agreement on 8,000 square feet of vacant office space, investing approximately $1,460,000 including leasehold improvements, machinery, equipment, inventory, furniture and fixtures, retain 15 full-time jobs and create 80 full-time permanent positions with annual payroll of approximately $2,980,000 to meet its increased sales growth and consumer demands. Print Syndicate, LLC would qualify for the Columbus Downtown Office Incentive in an amount equal to fifty percent (50%) of the payroll taxes paid on the new positions or approximately $74,726 over a term of two (2) years. The Development Department recommends granting the Columbus Downtown Office Incentive Program to Print Syndicate, LLC.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into a Columbus Downtown Office Incentive Agreement with Print Syndicate, LLC as provided in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007.
Body
WHEREAS, the City desires to increase employment opportunities and encourage establishment of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, authorized the Department of Development to establish the Columbus Dow...
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