Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Downtown Office Incentive Agreement with Matic Insurance Services Inc.
Matic Insurance Services Inc. was founded in 2014 in California as a technology company integrating into the insurance industry. They developed an application that is used to help borrowers obtain homeowners insurance during the mortgage loan process. In 2016, Matic Insurance Services Inc. selected Columbus, Ohio for their agent call center to assist customers directed to them by lenders in selecting the most appropriate insurance carrier and policy. Matic Insurance Services Inc. has recently landed several large integration partnerships which require an expansion of their insurance agent services as well as their legal team and administrative staff. This expansion could take place in their California or Columbus offices. Matic would like to expand in Columbus to take advantage of relationships with the insurance carriers headquartered in Columbus.
Matic Insurance Services Inc. intends to lease, renovate, and occupy approximately 12,000 square feet of office space at 2 Miranova Place, Suite 400, Columbus, Ohio 43215 (“Project Site”) in the Riversouth District. The expansion of this client’s services center and establishment of legal and administrative offices will support new integration partnerships and provide access to a diverse and talented pool of prospective employees. Matic Insurance Services Inc. will invest approximately $400,000 related to leasehold improvements and equipping the Project Site. Matic Insurance Services Inc. anticipates retaining 10 existing full-time permanent positions with an associated annual payroll of approximately $645,000 and expects to create 50 new full-time permanent positions with an associated annual payroll of approximately $3,317,000.
Matic Insurance Services Inc. is requesting a Downtown Office Incentive from the City of Columbus to assist in the expan...
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