City of Columbus - File #: 0209-2010

• File #: 0209-2010
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/27/2010
• In control: Finance & Economic Development Committee
• On agenda: 3/8/2010
• Final action: 3/10/2010
• Title: To authorize the Director of Development to enter into a Jobs Growth Incentive Agreement equal to twenty-five percent (25%) of the amount of income tax withheld on new employees for a term of 4 years with NuGrowth Solutions, LLC, Strategic Insurance Software, LLC and their human resource provider Sequent, in consideration of the retention of 31 full-time positions, the creation of 88 full-time permanent positions and a $250,000 investment.

Date	Ver.	Action By	Action	Result
3/10/2010	1	CITY CLERK	Attest
3/9/2010	1	MAYOR	Signed
3/8/2010	1	Columbus City Council	Approved	Pass
3/8/2010	1	COUNCIL PRESIDENT	Signed
3/1/2010	1	Columbus City Council	Read for the First Time
2/18/2010	1	City Clerk's Office	Sent back for Clarification/Correction
2/18/2010	1	Dev Drafter	Sent to Clerk's Office for Council
1/27/2010	1	Dev Drafter	Sent for Approval
1/27/2010	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
1/27/2010	1	Dev Drafter	Sent for Approval
1/27/2010	1	CITY ATTORNEY	Reviewed and Approved
1/27/2010	1	Dev Drafter	Sent to Clerk's Office for Council

Explanation

Background: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with NuGrowth Solutions, LLC, Strategic Insurance Software, LLC and their human resource provider Sequent, equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of 4 years.

NuGrowth Solutions, LLC (NuGrowth Solutions) is a business management firm that partners with businesses worldwide to accelerate growth and enter new markets.

Strategic Insurance Software, LLC ("SIS") a subsidiary of NuGrowth Solutions is a software company that develops software for insurance agents. Together, NuGrowth Solutions and SIS are proposing to expand their Columbus headquarters.

Sequent is the outsourced human resources service provider to the companies and will co-employ the new employees.

The company is also considering Tampa, Florida or Raleigh, North Carolina for this expansion. NuGrowth Solutions and SIS are requesting a Jobs Growth Incentive to assist in the expansion of its Columbus location.

Fiscal Impact: No funding is required for this legislation.


Title

To authorize the Director of Development to enter into a Jobs Growth Incentive Agreement equal to twenty-five percent (25%) of the amount of income tax withheld on new employees for a term of 4 years with NuGrowth Solutions, LLC, Strategic Insurance Software, LLC and their human resource provider Sequent, in consideration of the retention of 31 full-time positions, the creation of 88 full-time permanent positions and a $250,000 investment.


Body

WHEREAS, the City desires to increase employment opportunities and encourage the creation of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and

WHEREAS, the Department of Development has received a completed application for the Jobs Growth Incentive from NuGrowth Solutions, LLC and Strategic Insurance Software...