Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with FacilitySource, LLC in an amount equal to (i) twenty-five percent (25%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees, who are also City of Columbus residents at the end of each calendar year, both for a term of up to four (4) consecutive years.
FacilitySource, LLC (“FacilitySource”) is a national facilities management company and partner for facility management software, maintenance and support. Many of the world’s leading brands rely on the company to find innovative ways to streamline maintenance processes, automate workflows, and reduce their overall maintenance spending. Each year, FacilitySource answers over 2 million service calls, processes 3.6 million work orders, and manages $2.7 billion dollars in facilities spend across multiple business sectors, but primarily large retail chains.
FacilitySource, LLC is proposing to expand their operations at 200 East Campus View Blvd., Suite 301 Columbus, Ohio 43235 (“Project Site”), a commercial office building in which the company already has existing operations which occupies approximately 33,000 square feet, in support of its facility management business. As part of this expansion, FacilitySource is expected to enter into a 6-year lease agreement for an additional 13,562 square feet on multiple floors within the building.
Improvements to FacilitySource’s existing offices and the build out of the newly-leased office space will be a sizeable investment for the company to accommodate the expected headcount growth. The project involves a total investment of approximately $1,538,000 related to building improvements and the acquisition of machinery and equipment, furniture/fixtures, and computers. FacilitySource, LLC antici...
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