Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with FlightSafety International Inc. The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
FlightSafety International Inc. (FlightSafety) is the world’s premier professional aviation training company and supplier of flight simulators, visual systems and displays to commercial, government and military organizations. The company provides more than a million hours of training each year to pilots, technicians and other aviation professionals. FlightSafety operates the world’s largest fleet of advanced full flight simulators in its Learning Centers located in the United States, Canada, France, Japan, South Africa and the United Kingdom. The company is owned and backed by Berkshire Hathaway, Inc., an American multinational conglomerate holding company headquartered in Omaha, Nebraska that oversees and manages a number of subsidiary companies.
FlightSafety is proposing to invest approximately $113 million to expand its Columbus Learning Center. This investment amount includes $22.5 million in real property improvements, $88 million in machinery and equipment, $2.5 million furniture and fixtures. The company plans to construct a new Learning Center consisting of two separate buildings of approximately 54,000 and 90,000 square feet, respectively. Eventually, the two facilities will connect making it one large flight simulator Learning Center. This new Learning Center will house 18 new full flight simulators and will train pilots, technicians and other aviation professionals. FlightSafety will retain 137 full-time employees with an estimated annual payroll of $9.17 million and create 18 new full-time permanent positions with an estimated annual payroll of approximately $1.19 million.
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