Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Copper Run Capital LLC in an amount equal to twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees for a term up to five (5) consecutive years.
Founded in 2008 by Andy Hays and Scott Chapman, Copper Run Capital LLC (“Copper Run”) was established to provide mergers and acquisitions (M&A) advisory services to underserved middle market firms in the Midwest. With a national footprint, Copper Run is known for its exceptional buy-side process and tenacious sell-side deal making. Headquarters in the City of Columbus, Copper Run is a different kind of investment bank that focuses exclusively on middle market transactions, providing buy-side and sell-side M&A advisory services on transactions between $10 million and $250 million. Their clients consist of top-tier private equity firms, sponsor-backed companies, and middle market businesses.
Copper Run Capital LLC is proposing to relocate and expand its corporate HQ by entering into a new lease agreement on a vacant office space consisting of approximately 21,000 square feet at 1165 Dublin Rd. Columbus, OH 43215, parcel number 010-129532 (the “Project Site”). The proposed project will allow Copper Run Capital LLC to expand into the Columbus region, create thirty (30) net new full-time permanent positions with a cumulative associated estimated annual payroll of approximately $6,000,000.00 and retain eighteen (18) full-time permanent positions with an associated estimated annual payroll of approximately $2,952,000.00 at the proposed Project Site.
This legislation is presented as 30-day legislation.
FISCAL IMPACT: No funding is required for this legislation
Title
To authorize the Director of the Department of Development to enter into a Jobs Growth Incentive Agreement with Copper Run Capital LLC for a term of up to five (5) consecu...
Click here for full text