Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Slalom, LLC 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.
Slalom, LLC is a modern consulting firm focused on strategy, technology, and business transformation. Slalom was formed in 1993 in Denver, Colorado. Now in over 35 markets across the US and around the world, Slalom’s teams have autonomy to move fast and do what’s right. They are backed by regional innovation hubs, a global culture of collaboration, and partnerships with the world’s top technology providers.
Slalom, LLC is proposing to invest approximately $120,000 in computers, $263,000 in furniture and fixtures, and $164,000 in leasehold improvements to establish operations at 4111 Worth Avenue, Columbus, Ohio 43219, parcel number 010-298349. With this project, the company plans to relocate 19 existing full-time permanent positions with an associated annual payroll of $3,288,000. Additionally, Slalom, LLC will create 85 new full-time permanent positions with a cumulative estimated annual payroll of approximately $12,157,000 to support its growth.
Slalom, LLC is requesting a dual-rate Jobs Growth Incentive from the City of Columbus to assist with this expansion project. This legislation is presented as 30 day legislation.
FISCAL IMPACT: No funding is required for this legislation
Title
To authorize the Director of the Department of Development to enter into a dual-rate Jobs Growth Incentive Agreement with Slalom, LLC for a term of up to five (5) consecutive years in consideration of the company’s proposed capital investment of $547...
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