City of Columbus - File #: 0520-2018

• File #: 0520-2018
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/9/2018
• In control: Economic Development & Small and Minority Business Committee
• On agenda: 3/5/2018
• Final action: 3/8/2018
• Title: To authorize the Director of the Department of Development to enter into an Enterprise Zone Agreement with Bertec, LLC and Bertec Corporation for a property tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a proposed total investment of approximately $5,148,000.00, of which approximately $4,758,000.00 will be related to the renovation of approximately 25,600 +/- square feet, retention of 35 full-time jobs and the creation of 15 net new full-time permanent positions.

Date	Ver.	Action By	Action	Result
3/8/2018	1	CITY CLERK	Attest
3/7/2018	1	MAYOR	Signed
3/5/2018	1	COUNCIL PRESIDENT	Signed
3/5/2018	1	Columbus City Council	Approved	Pass
2/26/2018	1	Columbus City Council	Read for the First Time

Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Bertec, LLC and Bertec Corporation. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.

Bertec Corporation is a locally owned business that leads the industry in force measurement technology for biomechanics since 1987. Having first introduced multi­component load transducers in 1987, Bertec Corporation has grown to specialize in gait analysis equipment, balance assessment and training, ergonomics, athletic performance and enhancement, and industrial applications for specialized load cells/transducers. For 30 years, researchers and clinicians at gait labs all over the world have trusted Bertec to provide accurate force measuring equipment and software, with many force plates still in active use after two decades. Bertec Corporation has expanded to meet market opportunities as well as clinical demands and is dedicated to continued engineering expertise for which it has been known for almost three decades. Bertec Corporation formed the affiliated company Bertec, LLC to jointly undertake their new headquarters project.

Bertec, LLC and Bertec Corporation jointly propose to invest the total project cost of approximately $5,148,000, which includes $4,758,000 in real property improvements and another $295,000 in furniture, fixtures, computers, and inventory, and $95,000 in machinery and equipment, to construct a new headquarters building consisting of approximately 25,600 sq. ft. +/- at 2500 Citygate Drive, Columbus, Ohio 43219, parcel number 010-246956. The proposed headquarters will contain the design and assembly of the force measuring systems produced by Bertec, as well as administrative, marketing and sales offices, and a customer training area. Bertec Corporation will be the employer of record, and enter into a lease agreement with the affilia...