Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with AAA Cooper Transportation in an amount equal to twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees each calendar year, for a term up to five (5) consecutive years.
Founded in 1956, AAA Cooper Transportation is an independent subsidiary of Knight-Swift Transportation Holdings, providing extended direct coverage and resources across the United States. AAA Cooper Transportation is an asset-based multi-regional transportation solutions provider offering less-than-truckload, dedicated contract carriage, fleet maintenance, truckload brokerage, and international services.
AAA Cooper Transportation is proposing to invest a total project cost of approximately $3,300,000.00, which includes $3,200,000.00 in acquisition costs and $100,000.00 in machinery and equipment to establish a new distribution facility. With this investment, the company proposes to purchase and renovate an existing vacant industrial distribution facility consisting of approximately 23,000 square feet at 1720 Joyce Ave. Columbus, OH 43219, parcel number 010-027081 (the “Project Site”). The proposed project will allow AAA Cooper Transportation to expand into the Columbus region by creating fifty-five (55) net new full-time permanent positions with a cumulative associated estimated annual payroll of approximately $3,850,000.00 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 AAA Cooper Transportation for a term of up to five (5) consecutive years in consideration of the company’s proposed total capital investment of $3,300,000.00 and the creation of fifty-five (55) net new full-time permanent po...
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