Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Jobs Growth Incentive Agreement with Schoola, Inc. (Schoola) 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 purpose of the creation of employment opportunities for the citizens of the Columbus community.
Headquartered in San Francisco, California, Schoola is an online retail store selling children and women’s clothing. The company was founded in 2011 by Stacey Boyd, a parent, former teacher and school principal. Stacey saw firsthand how children who struggled in math could come alive in music class. How art, physical education and foreign language could have a profound effect on students. She also saw how hard it was to obtain funds to support these programs and how easy it was for these programs to get eliminated. Dedicated to putting paint brushes, books, baseballs and violins back into the hands of children, Stacey launched Schoola in the 2012/2013 school year. A few innovative schools took the call to run a clothing drive during the last (and busiest) week of school. Parents sent in their gently used children's clothing and Schoola listed them on its website at amazing prices. The school receives proceeds from every item sold, helping to fund all those essential programs. Today, Schoola has over 10,000 schools that participate in this program, which brings new paints to art classes, new instruments to the orchestra, and new books for the libraries. Quality clothes get a second life, parents help parents and schools help schools.
Schoola is proposing to invest approximately $3 million in total project costs, which include leasehold improvements, machinery, equipment, stand-alone computers, inventory, furniture and fixtures to open a new Midwest operation. The company will enter into a 7-year lease agreement on vacant warehouse space consisting of approximately 77,000 square fe...
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