For Immediate Release
Jan. 5, 2011
Economic Development Agreements Attracting Job Growth
Six proposals going to Dublin City Council to retain jobs in region and attract new jobs to Dublin
Dublin (OH) – The City of Dublin Department of Economic Development has announced it will introduce six Economic Development Agreements (EDAs) to Dublin City Council on January 10th, including incentives to persuade Alcatel-Lucent to choose a central Ohio location and lease a facility in Dublin instead of moving out of Ohio. All told, the six agreements are projected to create 737 new jobs for Dublin.
According to Colleen Gilger, Dublin's Economic Development Administrator, telecommunications equipment maker Alcatel-Lucent’s approximately 500 to 600 jobs are at risk of leaving Ohio. Gilger said the company had decided to move its information technology and testing operations from leased space on E. Broad St. and was considering various office locations in central Ohio or a relocation to Alcatel-Lucent-owned facilities in Illinois, New Jersey and/or Texas.
Earlier this month, the Ohio Department of Development approved $10 million worth of tax credits redeemable over 10 years to help keep the jobs in Ohio. The City of Dublin submitted a letter of support urging the agency to assist with the retention of the company to Ohio.
“We are still competing against several locations in other states for this project, as the company owns other facilities with excess capacity in places like Naperville, Illinois,” said Gilger. “Dublin has been identified as the 'finalist' location in Ohio and we hope to retain these 500 to 600 jobs to the region.”
Should City Council approve the EDA at the January 24th meeting, Gilger hopes Alcatel-Lucent will soon after announce their final location decision as Dublin.
“Choosing Dublin as its preferred location in central Ohio came down to the company finding the right building (Atrium II at 5475 Rings Road), at the right location with great access for its workforce and visitors, at the right price,” added Gilger. “Lease rates are very competitive right now. This decision to narrow the company’s choice to Atrium II is reflective of the competitively priced Class A space that is available in Dublin.”
“We are pleased with the City's economic development efforts in working to keep these jobs in central Ohio,” said City of Dublin Mayor Tim Lecklider. “This could be a significant win for the region. In this extremely competitive environment – the region loses if we can't retain these jobs in central Ohio. We welcome the opportunity for Alcatel-Lucent to call Dublin home, where it will be among other global research, development and innovation-type companies.”
City Council also will consider incentives for Nationwide Children's Hospital to expand their footprint in 2011 in Dublin. Nationwide Children's Hospital currently has a presence in three Dublin locations covering more than 55,000 square feet housing 41 employees. Gilger said Nationwide Children's Hospital is planning to construct a new 22,000 square foot Sports Medicine and Orthopedics facility creating 52 additional jobs. The incentive proposal also includes an offer for an additional 30,000 square foot facility to be built no later than 2020.
Four additional EDAs, including many in the technology growth sector, will be introduced to Council for consideration on January 10:
Dublin start-up, InfoMotion Sports Technologies, (dba 94Fifty Sports) looks to create 45 technology jobs. The Ohio Department of Development awarded a 45 percent, six-year tax credit valued at up to $209,000 for a $1.47 million expansion. The company already has received a $750,000 Innovation Ohio Loan from the State for the expansion.
HealthSpot, Inc., a start-up health-care technology company, plans to create 60 jobs with an average wage of $80,000. The company recently received from the Ohio Department of Development a 50 percent, six-year tax credit valued at up to $424,000 for a $1.8 million expansion into Dublin.
Information technology and executive search consultant Fast Switch Ltd. plans to retain 63 jobs and create an additional 25 positions. The Ohio Department of Development awarded the company a 55 percent, seven-year tax credit valued at about $944,000 to make improvements to Dublin, Columbus and Hilliard offices.
Equity Resources Inc., a mortgage banking entity based in Newark, OH, is expanding further into central Ohio with the opening of a new regional office of 15 jobs and an average salary of $100,000.
For more information
Contact: Sue Burness at 614.327.1274 | sburness@dublin.oh.us | Twitter: @sueburness