Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Ventech Solutions equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees for a term up to five (5) years for the purposes of job creation and retention of an emerging business located at 8425 Pulsar Place in the Northeast business corridor.
Founded by Ravi Kunduru in 1993, Ventech Solutions is an IT Software Development and System Integration consulting services company. Ventech Solutions is a world class, SBA 8(A) certified, SEI CMMI Level 3 Software Company that offers IT services to US Federal, State and Local government agencies. The company specializes in Application Modernization, Development and Integration services. Ventech was started as a book publishing company Balaji Publications in Chennai (Potheri, India). The company successfully published Advance Microprocessor and Design II, custom printing thousands of copies to cater the needs of engineering students for the academic year. Soon after this success, Ravi founded Master Minds, Inc. with the sole aim to create a world class global enterprise. Master Minds, Inc. was a desktop publishing, computer sales and support company. The company had offices in Atlanta, Georgia, Columbus, Ohio and Sydney, Australia. Master Minds, Inc. grew into a large business by 1997, and celebrated record annual revenues of over $14 million. Ventech Solutions is the successor to Master Minds, Inc. and was formed based on three core principles: Votivus (Honesty), Exertus (Experience) and Nexuses (Competence). Ventech’s clients span over 14 states with physical presence in Louisiana, New Mexico, Ohio, Virginia, and Washington, DC.
Ventech Solutions is proposing to invest approximately $425,000 in stand-alone computers, inventory, furniture and fixtures to expand its corporate headquarters. The company will enter into a lease agreement on a vacant commerc...
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