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File #: 0436-2020    Version:
Type: Ordinance Status: Passed
File created: 2/7/2020 In control: Economic Development Committee
On agenda: 3/2/2020 Final action: 3/5/2020
Title: To authorize the Director of the Department of Development to (1) enter into an Enterprise Zone Agreement with Andelyn Biosciences, Inc. for a tax abatement of one-hundred percent (100%) for a period of fifteen (15) consecutive years in consideration of a total proposed capital investment of approximately $74,000,000.00 and the creation of 170 net new full-time permanent positions with an estimated annual payroll of approximately $15,437,000.00; and (2) to authorize the Director of the Department of Development to enter into an Enterprise Zone Compensation Agreement with Adelyn Biosciences, Inc. and Columbus City School District.
Attachments: 1. ORD0436-2020 Andelyn Biosciences - Comp agrmnt-CCS-NCH district executed copy, 2. ORD0436-2020 Andelyn Biosciences - Fact Sheet EZ, 3. ORD0436-2020 Andelyn Biosciences - Project Site Map
Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Andelyn Biosciences, Inc. 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.

Andelyn Biosciences, Inc. (“Andelyn Biosciences”) a new for-profit subsidiary of Nationwide Children’s Hospital, Inc. and a sister organization to non-profit The Abigail Wexner Research Institute, will manufacture gene therapy products for the biotechnology and pharmaceutical industries. Andelyn Biosciences will become a Phase 3 compliant Good Manufacturing Practices (cGMP) clinical manufacturing facility producing materials for Phase 1, 2, and 3 gene therapy clinical studies for biotechnology and pharmaceutical industries around the world. These products will have application to life-threatening diseases such as Spinal Muscular Atrophy, Duchenne Muscular Dystrophy, Batten Disease, Cystic Fibrosis, Parkinson’s disease and ALS.

Andelyn Biosciences is proposing to invest a total project cost of approximately $74,000,000, which includes $64,000,000 in real property improvements, $7,000,000 in machinery and equipment, and $3,000,000 in furniture and fixtures to construct a new manufacturing facility consisting of approximately 85,000 square feet on roughly 7.8 +/- acres of undeveloped land located near the SW Corner of Lane Avenue and Carmack Road, Columbus, Ohio 43221 (“Project Site”). Additionally, the company anticipates creating 170 net new full-time permanent positions with an estimated annual payroll of approximately $15,437,800 at the aforementioned Project Site.

The Department of Development recommends a 100%/15-year Enterprise Zone tax abatement on real property improvements.

The Board of Education of the Columbus City School District has been advised of this project and, pursuant to Ohio Revised Code has passed a resolution approving the one hundred percent (100%)/15-year Enterp...

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