City Council to consider Chase incentive - Business First of Columbus:

lyubomiradete.blogspot.com
The $6.3 million incentivre package, which includes a 10-year tax credit and an eight-yeadr Job Growth Incentive, is set for consideration as emergencty legislation weeks after the approved a 75 percent tax credit valuex atabout $14 million for Chase (NYSE:JPM). The compant has pledged to creatr 1,000 jobs in Columbus and 150 jobs in Westerville over the next five About 900 of those jobs would be createxd during the nextthree years. Under the incentivde package recommended by the Columbusx Departmentof Development, the eight-year incentive from the city wouldx return $1.84 million in withheld payrollk taxes to the company over that term. The 10-yeafr tax credit is worth $4.47 million.
Columbud would take in $5 million in corporate franchiss and income taxes afterthe abatements. Chase’s investment for the projecrt totalsabout $16 million, while work at its Polarisd Parkway facility is scheduled to begin next month, accordin to information from the city. JPMorganh Chase also is considering sitesz inNew York, home to its corporatr headquarters, along with Louisiana and Texas. The company ranks as the third-largesg employer in Central Ohio, with nearluy 11,000 of the current 14,000 jobs in the regiohn in Columbus. Included in the jobs total are 3,00 0 workers in Westerville.