Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Vantage Point Logistics, Inc. 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, for a term of up to five (5) consecutive years.
Vantage Point Logistics, Inc. (VPL) is an Ohio based IT company and the pioneer of a simple and proven method to reduce inbound package freight costs. Formed by principals Scott Crow and Eric McGlade, the company has developed a suite of software that engages in active freight management services to the Healthcare industry. The technology works exclusively with universities and colleges, helping them navigate through the stages of managing freight costs, from the initial savings on existing pre-pay and add freight charges. As a result, VPL’s customers can follow and track a product from the original shipper into their network and then track it until it arrives at the final point of patient care. With this technology, it provides VPL’s customers with the ability to calculate the true landed cost of any product, regardless of the number of times it moves from location-to- location.
Vantage Point Logistics, Inc. is proposing to invest a total project cost of approximately $275,000, which includes $50,000 in lease-hold improvements, $75,000 in stand-alone computers, and $150,000 in furniture and fixtures to expand its corporate headquarters at 1105 Schrock Road, Columbus, Ohio 43229. With this expansion, the company plans to increase its existing office space by 9,000 square feet, hire additional staff to meet its increased sales growth and consumer demands, and to continue growing its software platform. Additionally, Vantage P...
Click here for full text