Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive with Dynamit Technologies, LLC.
Dynamit Technologies, LLC is privately held company headquartered in the Arena District of downtown Columbus. The company was founded in 2004 by Matt Dopkiss, Chief Executive Officer. Dynamit Technologies, LLC is a digital consultancy made up of designers, web developers, strategists, and content specialists that solves complex business challenges for retailers, healthcare organizations, associations, business-to-business companies, start-ups, not-for-profits and professional services with both domestic and international clients. Dynamit Technologies, LLC handles projects from start to finish, offering Web and mobile design and development, Intranet design, user experience, e-commerce, systems integration, and content management.
Dynamit Technologies, LLC is proposing to expand its corporate headquarters in the Arena District by entering into a 5-year lease agreement on 9,400 square feet of vacant office space, investing approximately $500,000 including leasehold improvements, machinery and equipment, retaining 35 full-time jobs and creating 30 full-time permanent positions with annual payroll of approximately $2,100,000. Dynamit Technologies, LLC would qualify for the Columbus Downtown Office Incentive in an amount equal to fifty percent (50%) of the payroll taxes paid on the new positions or approximately $78,750 over a term up to three (3) years. The Development Department recommends granting the Columbus Downtown Office Incentive Program to Dynamit Technologies, LLC.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Columbus Downtown Office Incentive Program Agreement with Dynamit Technologies, LLC as provided in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007.
Body
WHEREAS, the Cit...
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