Grandview considering tax incentives for two companies
The first two ordinances presented to Grandview Heights City Council in 2022 are proposed development tax-incentive agreements for companies looking to move or keep their growing offices in the city.
Council approved the first agreement at its Jan. 18 meeting and heard the first reading of the other proposed incentive.
The city will be entering into an agreement to provide Pluto Healthcare Staffing with a five-year 25% tax credit to move its operations from 865 Yard St. to 775 Yard St.
The agreement will allow the company to remain headquartered in the Grandview Yard development.
Council's economic development committee met Jan. 13 to review the agreement and voted 3-0 to recommend the full council's approval.
Pluto Healthcare Staffing is expecting to add 65 employees to the total staffing at its main office by the end of the initial five-year agreement.
That would mean a projected payroll of $5,945,000 by the end of the fifth year, director of finance Megan Miller said.
After paying the 25% credit, the city would receive about $111,000 in annual revenue, she said.
The credit would be 30% in years four and five of the agreement if the company exceeds the total projected payroll, said P'Elizabeth Koelker, the city’s director of planning and community development.
"It was important to (Pluto) to have some flexibility," Koelker said. "They are growing very quickly so a five-year lease and a five-year incentive (was what they looking for.)"
The city would like the company "to stay much longer" so the agreement includes an inducement that would increase the tax credit to 35% if Pluto remains in Grandview for years six through 10, she said.
The second incentive agreement would be offered to Revolucion Employee LLC, the company that operates Condado Taco restaurants.
As with Pluto, the proposed agreement would provide Revolucion with a five-year, 25% tax credit.
The company would move its headquarters from downtown Columbus to 777 Goodale Blvd.
"We're really excited about the opportunity," Chief Finance Officer Dave Conley said. "We've been growing like crazy."
He said the new location will accommodate the company's growth.
When he joined Revolucion in 2017, Conley said there were four Condado Taco restaurants. The company now has 29 outlets in Ohio, Kentucky, Indiana, Michigan, Pennsylvania and Tennessee.
Leases for 10 additional locations to open this year are in place and the company hopes to announce a 40th restaurant soon, Conley said.
The proposed agreement with Grandview calls for Revolucion to add 30 employees at its headquarters by the end of 2025 for a total of 59 and an expected payroll of about $4.8 million.
The ordinance was assigned to council’s economic development committee.
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This article originally appeared on ThisWeek: Grandview considering tax incentives for two companies
