Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with Sage Sustainable Electronics, LLC. The Ohio Tax Credit Legislation (Section 718.15 of the Ohio Revised Code) authorizing such agreements became effective January 14, 1993 and requires the City to enter into a Council-approved agreement between the City and a participating company.
Sage Sustainable Electronics, LLC is a privately held company formed in April 2014, by co-founders Robert Houghton and Jill Vaske, respectively. The company is a start-up that will serve the information technology asset disposition (“ITAD”) market on a national basis. The co-founders formed the company to find methods to extend the useful life of electronics equipment, thereby reducing materials placed into the waste system and/or landfills. The company will target large and medium business as well as consumers to provide logistics, data security, repair and refurbishing services, and then sell the refurbished electronics products to new owners. Robert and Jill have 16 years in the information technology industry and were the co-founders of Redemtech, the recycling division of Hilliard-based Micro Electronics Inc., which sold Redemtech to Englewood, Colorado-based Arrow Electronics Inc. Sage Sustainable Electronics, LLC plans to begin offering electronics refurbishing and buybacks to the public in January.
Sage Sustainable Electronics, LLC is proposing to invest approximately $300,000, which includes leasehold improvements, machinery, equipment, furniture and fixtures, to establish its national headquarters along with its Midwest operating facility in the City of Columbus, by leasing a 26,000 square foot mixed-used industrial distribution property located in the Northwest corridor. In addition, the company is proposing to create 52 new full-time permanent positions with an estimated annual payroll of approximately $3.24 million and retain 8 full-time associates (which will be relocated f...
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