Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with EMH&T and/or its affiliate. The Ohio Enterprise Zone Law O.R.C. Section 5709.631 requires the City to enter into a Council-approved agreement between the City and participating companies.
EMH&T will relocate/retain 329 existing jobs from Gahanna to Columbus and will create 85 (eighty-five) new jobs at the project site. The City of Gahanna has been notified of the proposed relocation. The Ohio Department of Development, pursuant to ORC Section 5709.633 (B), has waived the relocation restrictions.
The Columbus School District has been advised of this project.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into an agreement with EMH&T and/or its affiliate for a tax abatement of seventy-five percent (75%) on real property improvements, machinery & equipment, and furniture & fixtures for a period of ten (10) years in consideration of a proposed $13.5 million investment in real property improvements and new personal property, the creation of 85 (eighty-five) new full-time jobs and the relocation/retention of 329 full-time positions new to Columbus; and to declare an emergency.
Body
WHEREAS, the Columbus City Council authorized the designation of the North
Enterprise Zone by legislation, Ordinance Number 427-03, dated March
31, 2003; and
WHEREAS, the Ohio Development Department approved this designation under State of Ohio Enterprise Law, by letter dated January 8, 2004; and
WHEREAS, EHM&T and/or its affiliate plans to invest $13.5 million in real property improvements, machinery & equipment, and furniture & fixtures to accommodate consolidation; and
WHEREAS, the consolidation will add approximately $13.5 million in investment within the City; and
WHEREAS, the consolidation and expansion will create 85 (eig...
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