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File #: 2898-2019    Version: 1
Type: Ordinance Status: Passed
File created: 10/31/2019 In control: Economic Development Committee
On agenda: 11/25/2019 Final action: 11/27/2019
Title: To authorize the Director of the Department of Development to enter into a Job Creation Tax Credit Agreement of fifty percent (50%) for a period of six (6) consecutive years with Essilor of America, Inc. and Essilor Laboratories of America, Inc. in consideration of the company’s total proposed capital investment of approximately $24.2 million and the creation of 118 net new full-time permanent positions.
Attachments: 1. ORD2898-2019 Essilor - Project Site Map, 2. ORD2898-2019 Essilor - Fact Sheet JCTC
Explanation
BACKGROUND: The need exists to enter into a Job Creation Tax Credit Agreement with Essilor of America, Inc. and Essilor Laboratories of America, Inc. (collectively, and hereinafter referred to as “Essilor”). The Ohio Tax Credit Legislation (Section 718.15 of the Ohio Revised Code) authorizing such agreements became effective January 14, 1993 and requires the City to enter a Council-approved agreement between the City and a participating company.

Essilor of America, Inc., founded in 1985, and Essilor Laboratories of America, Inc., founded in 1972, is one of the leading providers of eyeglass lenses in the United States and has been operational for more than 150 years. Essilor is a manufacturer and wholesale distributor of optical lenses that specializes in ophthalmic lens production and wholesale optical laboratory operations. The company produces a range of technologically advanced lenses, such as Essilor’s Varilux, Crizal, Thin&Lite, Airwear and Transitions. The company operates a network of independent laboratories that serve opticians, optometrists and ophthalmologists nationwide. The company’s mission is improving lives by improving sight. Essilor’s parent company is EssilorLuxottica S.A., a French-based international ophthalmic optics company headquartered in Charenton-le Pont, France.

Essilor is proposing to invest a total capital expenditure of approximately $24,200,000, which includes $20,900,000 in machinery and equipment, and $3,300,000 in leasehold improvements to create a new state-of-the-art lens processing facility. The proposed lens processing facility will be co-located within Essilor’s existing distribution center located at 2400 Spiegel Drive, Groveport, Ohio 43125, parcel number 495-239965 (the “Project Site”). The company is proposing to enter into a lease agreement for additional available space consisting of approximately 98,966 square feet, expanding its existing distribution center from 231,213 square feet to approximatel...

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