Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Universal Fabricating & Construction Services, Inc. and OneSource Employee Management, LLC equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees to Columbus for a term of five (5) years. Universal Fabricating & Construction Services, Inc. will invest a total of approximately $215,000 related to the acquisition of machinery and equipment, retain 40 full-time permanent positions with an estimated annual payroll of approximately $2 million, and create 30 new full-time permanent positions with an estimated new annual payroll of approximately $1,123,000.
Founded in 1987, Universal Fabricating & Construction Services, Inc. services the industrial and construction markets. The primary lines of business are custom manufacturing, machining, and construction [management] services. Universal Fabricating & Construction Services, Inc. offers complete metal fabrications, steel processing services, mechanical repairs, and on-site construction services.
OneSource Employee Management, LLC is a professional employer organization (PEO) and provides a litany of human resource services to a variety of clients. OneSource Employee Management, LLC is, and will continue to be, the employer of record for Universal Fabricating & Construction Services, Inc.
Universal Fabricating & Construction Services, Inc. is proposing to expand operations at their current 112,400-square-foot facility located at 1241 McKinley Ave., Columbus Ohio, 43222 as a result of an investment in machinery and equipment.
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 Universal Fabricating & Construction Services, Inc. and OneSource Employee Management, LLC equal to twenty-five percent (25%) of the amount of ...
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