Explanation
BACKGROUND: The Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with The Kroger Co. equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term of five (5) years. The Kroger Co. will make an investment of approximately $14.7 million including acquisition, improvements, furniture and fixtures, create 23 new full-time permanent positions and retain 103 existing jobs in the City of Columbus.
Headquartered in downtown Cincinnati, The Kroger Co. is an American retailer founded by Bernard Kroger in 1883. With nearly 2,500 stores in 31 states under two dozen banners with annual sales of more than $70 billion, Kroger ranks as one of the nation’s largest retailers. The Kroger Co. also operates 40 food processing facilities that make thousands of products ranging from bread, cookies and milk to soda pop, ice cream and peanut butter. Nearly half of the 14,400 private-label items found in the company’s stores today are made at one of these manufacturing plants.
The Kroger Co. is proposing to relocate and expand its Columbus Central Fill Pharmacy facility by acquiring a vacant commercial warehouse consisting of 35,000 square feet with the plan of expanding another 10,000 square feet at 2270 W. Rickenbacker Parkway, to meet its increased growth and its consumer demand. This new Central Fill Pharmacy facility will distribute prescription medicine to over 400 Kroger stores and potentially third parties.
Emergency action is necessary in order for this project to move forward with its initial permitting process in order to meet completion deadlines.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into a Jobs Growth Incentive Agreement with The Kroger Co. equal to twenty-five percent (25%) of the amount of new income tax withheld on new employees for a term of five (5) years in consideration of the compa...
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