Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with ContactUS, LLC equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. ContactUS, LLC will make a fixed-asset investment of approximately $1.0 million, including $135,000 in renovations and lease-hold improvements, $615,000 in new machinery and equipment, and $250,000 in new furniture and fixtures, and create 150 new full-time permanent positions with an annual payroll of approximately $5.6 million.
ContactUS, LLC was formed in December, 2011 by the Board of Directors of CallCopy, Inc. (a leading provider of innovative call recording and contact center solutions), and is a privately owned company. The product of cloud computing is the broader concept of infrastructure convergence and shared services. This type of data environment allows enterprises to get their computerized applications to work faster, with easier manageability and less maintenance.
ContactUS, LLC is proposing to establish its corporate headquarters and client support operation in the City of Columbus. The company will enter into a 7-year lease agreement on vacant office space consisting of approximately 11,000 square feet located at 1108 City Park Avenue. The renovated space will allow the company to start up its new cloud based contact center and software development facility, and also allow room for increased growth and consumer demand.
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 ContactUS, LLC equal to twenty-five percent (25%) of the amount of new income tax withheld on employees for a term of five (5) years in consideration of the company's proposed investment of $1 million and the creation of 150 new permanent full-time positions.
Body...
Click here for full text