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File #: 3025-2022    Version: 1
Type: Ordinance Status: Passed
File created: 10/31/2022 In control: Economic Development Committee
On agenda: 12/5/2022 Final action: 12/7/2022
Title: To authorize the Director of the Department of Development to enter into a dual-rate Jobs Growth Incentive Agreement with Safecor Health, LLC for a term of up to five (5) consecutive years in consideration of the company’s creation of 100 net new full-time permanent positions with an estimated annual payroll of approximately $12,389,296.00 and the retention of 129 full-time jobs.
Attachments: 1. 3025-2022 Safecor Health - Project Site Map, 2. 3025-2022 Safecor Health - Fact Sheet
Explanation

BACKGROUND: The Columbus Department of Development is proposing to enter into a dual-rate Jobs Growth Incentive Agreement with Safecor Health, LLC (“Safecor Health”) 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.

Safecor Health was founded in 2008 by Steve Fischbach and Ryan O'Dell in Woburn MA to fulfill an unmet need in hospital pharmaceutical unit-dose repackaging. The company expanded into Columbus in 2011 and later doubled the size of the Facility in 2018 and added additional ISO certifications to the facility. In 2020, Safecor Health continued investing in Columbus by adding additional machinery in order to expand its business. The company serves over 1000 hospitals with unit dose repackaging and has other lines of business including commercial product with distribution to wholesalers and contract packaging for other pharmaceutical companies. Safecor Health adds value to its products by reducing waste by packaging only what is required, freeing hospital pharmacies from repackaging medication, eliminating packaging mistakes, and re labeling packaging and bar coding which save hospitals time and reduce patient cost.

Safecor Health is proposing to invest a total project cost of approximately $2,200,000, which includes $1,700,000 in leasehold in improvements and $500,000 in machinery and equipment to expand its operations to accommodate its increased sales growth and consumer demands. With this expansion, the company proposes to remodel an existing company owned facility at 4060 Business Park Drive, Columbus Ohio, 43204, parcel number 570-212284 and to enter into a new lease agreement on a vacant commercial space consist...

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