Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with BriskHeat Corporation 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.
BriskHeat Corporation is a global manufacturer of electrical surface heaters, insulators, and temperature controls. The company was founded in 1949 by retired Two Star Major General Earnest Briscoe. Since 1949, the company has provided flexible heating solutions used for freeze protection, condensation, preventions, flow/viscosity control, vacuum bake-out, heating tape, silicone rubber blanket heaters, drum heaters, tote tank/IBC heaters, temperature controllers, vacuum curing tables and hot bonders. BriskHeat Corporation’s primary manufacturing facilities and headquarters are located in Columbus, Ohio with sales offices in Taiwan, Shenzhen, Hong Kong, Germany and France as well as a manufacturing facility in Vietnam.
BriskHeat Corporation is proposing to invest approximately $2.25 million in leasehold improvements, which includes machinery and equipment, to consolidate their operations that are currently located in five separate buildings at three different locations. The purpose of this move is to consolidate all of its operations into one facility, which will improve the company’s efficiency and provide additional space for expansion. BriskHeat Corporation will enter into a lease agreement on a facility comprised of approximately 98,000 square feet at 4800 Hilton Corporate Drive, retain and relocate 265 full-time jobs with an annual payroll of approximately $9.18 million and create 26 full-time permanent positions with an annual payroll of approximately $941,000. Also, the company will create an additional 77 full-time permanent positions with an annual salary of $19,365 for a total annual payroll of approx...
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