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File #: 1987-2021    Version: 1
Type: Ordinance Status: Passed
File created: 7/8/2021 In control: Economic Development Committee
On agenda: 7/26/2021 Final action: 7/28/2021
Title: To authorize the Director of the Department of Development to enter into a dual-rate Jobs Growth Incentive Agreement with Flight Safety International Inc. for a term of up to five (5) consecutive years in consideration of the company’s proposed capital investment of $900,000.00 and creation of 113 net new full-time permanent positions with an estimated annual payroll of approximately $10,130,000.00.
Attachments: 1. ORD1987-2021 FSI JGI - Site Map, 2. ORD1987-2021 FSI - JGI Fact Sheet
Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with FlightSafety International, 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.

FlightSafety International Inc. (“FSI”), founded in 1951, is one of the world’s leading aviation training companies, training more than 75,000 pilots, technicians and other aviation professions each year via a worldwide network of 40 learning centers. The company also manufactures and operates advanced technology flight simulators. This project would relocate the Berkshire Hathaway company’s headquarters operations from New York to Columbus.

FSI proposes to invest total project costs of approximately $900,000 in furniture and fixtures to relocate their headquarters operations to the exiting training facility located at 4010 Bridgeway Avenue, Columbus, Ohio 43219, parcel number 010-293794 (“Project Site”). The company will create 113 net new full-time permanent positions with an annual payroll of $10,130,000 and retain 32 full-time permanent positions with an annual payroll of $6,784,416 at the Project Site.

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 Flight Safety International Inc. for a term of up to five (5) consecutive years in consideration of the company’s proposed capital investment of $900,000.00 and creation of 113 net new full-time permanent positions with an estimated annual payroll of approximately $10,130,000.00....

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