Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Valhalla Holdings, Inc., Woda Constructions, Inc., Valhalla Personnel, Inc. and The Woda Group, Inc. 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, for a term of up to five (5) consecutive years.
Founded in 2007, Valhalla Holdings, Inc. is the parent holding company for a family of affordable housing companies specializing in the development, design, construction and property management of affordable rental housing in rural, suburban and urban communities throughout 14 different states. Valhalla Holdings, Inc. is currently headquartered in Westerville, Ohio and operates an extension office in the City of Columbus with 30 full-time employees. The organization primarily operates in the apartment building construction business industry within the Construction - General Contractors & Operative Builders sectors. Valhalla Holdings, Inc. affiliates includes: Woda Constructions, Inc., Valhalla Personnel, Inc. and The Woda Group, Inc.
Valhalla Holdings, Inc. is proposing to invest approximately $2.5 million, which includes $1.5 million in building improvements and $1.0 million in furniture and fixtures, to consolidate, relocate and expand its corporate headquarters. With this expansion, the company will combine its Westerville and Columbus offices to improve efficiencies and productivity, and to accommodate the company’s continued growth. The company began in 3 states and now they’re currently in 14 different states. Valhalla Holdings, Inc. will enter into a lease agreement on a vacant commercial office space consisting of approximately 26,000 sq. ft. +/- ...
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