Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with PEDC Property Management, Inc. and Midwest Motor Supply Co., dba Kimball Midwest. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
PEDC Property Management, Inc. is proposing to expand their existing 226,000 square-foot facility located at 4800 Roberts Rd., Columbus, Ohio 43228 (parcel numbers: 560-193791, 560-193792, 560-273578, and 560-273579) by approximately 163,000 square feet, which Midwest Motor Supply Co. will occupy as part of a lease arrangement. The four owners of PEDC Property Management, Inc. also own Midwest Motor Supply Co.
PEDC Property Management, Inc. will invest approximately $7,800,000 in real property improvements related to new building construction, so that Midwest Motor Supply Co. will retain 307 full-time permanent positions with an associated annual payroll of approximately $18,161,000 and create 60 new full-time permanent positions with an associated new annual payroll of approximately $2,248,800.
In business since 1923, Midwest Motor Supply Co. is a major force in the industrial maintenance aftermarket. The company’s product offering includes fasteners, hoses and fittings, drill bits, chemicals, electrical connectors and shop supplies. The Roberts Rd. location serves as Midwest Motor Supply Co.’s corporate office and largest distribution center. Additional distribution centers are located in Grand Prairie (Dallas), Texas and Reno, Nevada.
The Department of Development recommends an Enterprise Zone Tax Abatement of seventy-five percent (75%) for a period of ten (10) years on real property improvements for the purpose of constructing an additional 163,000 square feet of commercial space at 4800 Roberts Rd. (parcel numbers: 560-193791, 560-193792, 560-273578, and 560-273579).
The Hilliard City School District and t...
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