Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with SK Food Group, Inc. (“SK Food Group”) in an amount equal to (i) thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees and (ii) thirty-five percent (35%) 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.
SK Food Group is a custom food manufacturing company serving customers across North America. From product creation to flawless execution and assembly, SK Food Group is a hands-on partner, every step of the way. The company is the leading producer of handcrafted sandwiches, wraps, protein snacks, flatbreads, burgers and more for a wide range of customers including Fortune 500 companies like Starbucks, along with airlines and retailers. Columbus is competing with Reno, NV and Phoenix, AZ for this project.
SK Food Group is proposing to enter into a long-term lease agreement on a vacant industrial warehouse facility consisting of approximately 144,000 square feet at 2955-3035 Charter Street, Columbus, OH 43228, parcel number 560-212424 (the “Project Site”), to establish a new operations to support its increased sales growth and consumer demands. Additionally, SK Food Group proposes to invest approximately $10,000,000 in leasehold improvements, $8,000,000 in machinery and equipment, and create 305 net new full-time permanent positions with an estimated cumulative estimated annual payroll of approximately $12,389,296 at the proposed Project Site.
SK Food Group, Inc. 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 Direct...
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