Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Downtown Office Incentive Agreement with Electrical Specialists, Inc. dba The Superior Group.
Electrical Specialists, Inc. dba The Superior Group (“The Superior Group”) is a national electrical and technology engineering and construction firm serving customers across diverse geographies and market verticals including data centers, enterprise campus, industrial, research, institutional, distribution, and other specialty facilities. Headquartered in Columbus, Ohio, their service offerings includes design, construction, service, and maintenance, partnering with clients through the life cycle of their most important facility assets.
The Superior Group intends to lease, equip, and occupy approximately 35,000-square-feet of office space at 555 W. Goodale Street, Columbus, Ohio 43215 (“Project Sites”). The establishment of operations will allow The Superior Group to expand their headquarters.
The Superior Group anticipates investing approximately $2,300,000 - of which approximately $2,000,000 will be related to real property improvements to build out and equip the Project Site. The Superior Group will relocate from 740 Waterman Avenue, Grandview Heights, Ohio 43215 and retain 140 employees with an annual payroll of $11,641,327 and expects to create approximately 50 net new full-time permanent positions with an associated new annual payroll of approximately $4,005,000.
The Superior Group is requesting a Downtown Office Incentive from the City of Columbus to assist in the relocation and expansion of operations in Columbus.
FISCAL IMPACT: No funding is required for this legislation
Title
To authorize the Director of the Department of Development to enter into a Downtown Office Incentive Agreement with Electrical Specialists, Inc., dba The Superior Group, as provided in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007.
Body
WHEREAS, the City desires to increase employment opportunities and encourage establishment of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, authorized the Department of Development to establish the Columbus Downtown Office Incentive Program as amended; and
WHEREAS, the Department of Development has received a completed application for the Downtown Office Incentive from Electrical Specialists, Inc., dba The Superior Group; and
WHEREAS, Electrical Specialists, Inc., dba The Superior Group, intends to lease, equip, and occupy approximately 35,000-square-feet of office space at 555 W. Goodale Street, Columbus, Ohio 43215; and
WHEREAS, Electrical Specialists, Inc., dba The Superior Group, anticipates investing approximately $2,300,000, to relocate from 740 Waterman Avenue, Grandview Heights, Ohio 43215 and retain 140 employees with an annual payroll of $11,641,327 and expects to create approximately 50 net new full-time permanent positions with an associated new annual payroll of approximately $4,005,000; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development is hereby authorized to enter into a Downtown Office Incentive Agreement, pursuant to Columbus City Council Resolution 0088X-2007, with Electrical Specialists, Inc., dba The Superior Group, for an annual cash payment equal to fifty percent (50%) of the amount of City withholding tax withheld on new employees for a term of up to five (5) consecutive years on the estimated job creation of 50 new full-time permanent positions to be located at 555 W. Goodale Street, Columbus, Ohio 43215.
SECTION 2. Each year of the term of the agreement with Electrical Specialists, Inc., dba The Superior Group, that a payment is due, the City's obligation to pay the incentive is expressly contingent upon the passing of an ordinance appropriating and authorizing the expenditure of monies sufficient to make such payment and the certification of the City Auditor pursuant to Section 159 of the Columbus City Charter.
SECTION 3. That the City of Columbus Downtown Office Incentive Agreement is signed by Electrical Specialists, Inc., dba The Superior Group, within 90 days of passage of this ordinance, or this ordinance and the credit herein shall be null and void.
SECTION 4. That the Director of the Department of Development is hereby authorized to amend the Downtown Office Incentive Agreement with Electrical Specialists, Inc., dba The Superior Group, for certain modifications to the agreement requested in writing by the company and or the City and deemed appropriate by the Director of Development with these modifications being specifically limited to reductions in length of term, methods of calculating the incentive, or adding or deleting business entities associated with the employment commitments related to this incentive. All other requested amendments must be approved by City Council.
SECTION 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.