Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with Coulter Ventures, LLC dba Rogue Fitness (“Rogue”). 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 a Council-approved agreement between the City and a participating company.
Rogue is a national leader in the manufacture and distribution of high quality strength and conditioning equipment, including weightlifting bars, plates, racks and other related equipment. The company was originally started in 2007 in a garage in Toledo, Ohio by the current owner Bill Henniger. Rogue quickly grew into a 5,000 square foot facility adjacent to an existing business that Mr. Henniger operated at the time in Columbus. The rapid growth has continued each year, as Rogue expanded its product offerings and brought more manufacturing processes in-house. Rogue has quickly grown from one employee to over 300 plus employees. A lot of Rogue’s growth was originally and continues to be from the popularity of Crossfit, to which it is the leading provider of equipment, but also comes from personal gyms to professional sports teams.
Coulter Properties LLC (the real estate holding company for Rogue) is proposing to acquire a vacant land parcel (the former Timken site, located on the corner of 5th and Cleveland Avenues) to construct a new corporate headquarters for all of Rogue’s North American operation. The new facility will include office space for administration as well as house the manufacturing and distribution of the company’s operation. The company will consolidate its current operation from three separate buildings into one facility consisting of approximately 600,000 square feet +/- on 30 +/- acres of vacant land. Rogue will create 90 new full-time permanent positions with an estimated annual payroll of approximately $3.9 million, and retain and relocate 337 full-time job...
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