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File #: 0511-2017    Version: 1
Type: Ordinance Status: Passed
File created: 2/21/2017 In control: Economic Development Committee
On agenda: 4/17/2017 Final action: 4/20/2017
Title: To authorize the Director of the Department of Development to enter into a Job Creation Tax Credit Agreement of sixty-five percent (65%) for a period of six (6) consecutive years with InXite Health Systems Inc. in consideration of the company’s proposed investment of $1.74 million and the creation of 163 new full-time permanent positions.
Attachments: 1. ORD0511-2017 InXite Health - Fact Sheet, 2. ORD0511-2017 InXite Health - Project Site Map
Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with InXite Health Systems Inc. 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.

InXite Health Systems Inc. is a healthcare IT company committed to improving the health of the nation by operationalizing and optimizing value-based care. The company connects the dots in a fragmented system, providing patients and everyone who cares for them, the tools and services they all need to better collaborate and improve health outcomes. InXite Health Systems Inc. was formed in 2013 by James Paat, President and CEO. The company’s management experience spans 25 years implementing large and complex information sharing initiatives across several verticals including financing services, global 100 supply chains & e-business and national security.

InXite Health Systems Inc. is currently located in the Dublin Entrepreneurial Center. The company is searching for additional office space to expand its operation and to establish a corporate headquarters presence. InXite Health Systems Inc. proposes to enter into a lease agreement on a vacant commercial office space consisting of approximately 14,500 square feet at One East Campus View Blvd. Columbus, Ohio 43235. The company is proposing to invest approximately $131,733 in leasehold improvements, including $1.39 million in machinery and equipment, and $220,745 in furniture and fixtures. A total of 163 new full-time permanent positions with an estimated annual payroll of approximately $7.99 million will be created and 8 full-time jobs with an estimated annual payroll of approximately $392,480 will be retained and relocated, which will be new jobs and income tax revenue to the City.

InXite Health Systems Inc.is requesting a Job Creation Tax Credit fro...

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