Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with EX2 Investments LTD and Carr Supply Co. The Ohio Enterprise Zone law O.R.C. Section 5709.62(C) requires the City to enter into a Council-approved agreement between the City and participating companies.
EX2 Investments LTD is a real estate holding company owned by two brothers, Roger and Greg Essig. Greg Essig is the current President of Carr Supply Co. Carr Supply Co. was founded in 1917 by Charles E. Carr in a small shop located at 222 Third Street, Columbus, Ohio. The business, formally known as CE Carr, was a manufacturer and distributor of sheet metal, hardware and livestock water equipment. In 1974, Carr Supply Co. began distribution of HVAC supplies and equipment. Currently, Carr Supply Co. has 15 locations throughout Central Ohio with its corporate headquarters (HQ) and distribution facility located at 1415 Old Leonard Avenue, Columbus, Ohio 43219, another distribution facility in Erlanger, KY and four distribution facilities in Michigan (Livonia, Rochester, Taylor and Waterford).
EX2 Investments LTD and Carr Supply Co. are proposing to invest a total project cost of approximately $2.7 million, which includes $2.6 million in real property improvements, $25,000 in machinery and equipment, and $80,000 in furniture and fixtures to expand its’ corporate HQ and distribution facility on 1415 Old Leonard Avenue, Columbus, Ohio 43219, parcel number 010-231120. The current facility is approximately 117,000 square feet with plans to expand it another 30,000 square feet to accommodate the company’s increased sales growth and to improve business efficiencies. EX2 Investments LTD will be the owner of the real estate while Carr Supply Co. will be the tenant and employer of record. Additionally, the company will retain 122 full-time jobs with an annual payroll of approximately $7.08 million and create 15 net new full-time permanent positions with an estimated annual payroll ...
Click here for full text