Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Engineered Profiles LLC equal to twenty-five percent (25%) of the amount of personal income tax withheld on new employees to Columbus for a term up to five (5) years. Engineered Profiles LLC will invest a total of approximately $3,740,000 related to the building acquisition, improvements to the structure and site, and the purchase of machinery and equipment, retain 179 full-time permanent positions with an estimated annual payroll of approximately $8,193,900, and create 18 new full-time permanent positions with an estimated new annual payroll of approximately $717,600.
Engineered Profiles LLC is a leading producer of plastic profile extrusions for original equipment manufacturers. Since its founding more than 65 years ago, Engineered Profiles LLC has led the industry with innovations that include the first vinyl siding product made in the United States, dual- and tri- extrusions, custom coloring and raw material formulations, part decoration and fabrication, metal embedment, wood composite extrusion and a host of other processing and tooling design advancements. Such products are used in a variety of commercial and industrial applications with sales throughout the United States.
Engineered Profiles LLC is proposing to acquire their current 355,000-square-foot facility located at 2141 Fairwood Ave., Columbus Ohio, 43207 that the company is currently leasing. Once the building is purchased, Engineered Profiles LLC desires to make improvements to the silos, roof, and asphalt in place at the project site. In addition, Engineered Profiles LLC desires to purchase additional machinery and equipment that will allow the company to expand their operations and secure new business. This includes purchasing additional extruders and related equipment, as well as updating the company’s materials lab.
FISCAL IMPACT: No funding is required for t...
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