Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Nullable, Inc. dba Aware (“Aware”) 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.
Aware is a cloud-based data platform that aims to adopt the latest advancements in cognitive computing, machine learning and behavioral analytics to amplify enterprise value by centralizing risk management and execute insights across the collaboration environment (Office 365, Slack, Workplace Facebook and Zoom). The company was founded in 2017 by Jeff Schumann, Matt Huber, and James Tsai in Columbus Ohio. Aware is fast growing and has increased its revenue by over 400% in the past few years. Aware announced a $60 million Series C investment led by Goldman Sachs in October of 2021 in order to scale its Software as a Service (SaaS) solutions for collaboration governance and data insights. Aware was crowned the winner in the tournament champion in the 2022 Inno Madness competition.
Aware is proposing to invest a total project cost of approximately $1,200,000 in leasehold improvements to relocate and expand its corporate headquarters to accommodate its increased sales growth and consumer demands. With this expansion, the company proposes to enter into a new lease agreement on a vacant office space consisting of approximately 23,576 square feet at 455 South Ludlow Street, Columbus, OH. 43215, parcel number 010-070427 (the “Project Site”), in the Brewery District. Additionally, Aware will retain 60 full-time jobs with an annual payroll of roughly $7.9 million and create 151 net new full-time permanent positions with a cumula...
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