City of Columbus came out ahead on tax incentive deals in 2020 despite missed goals

Companies that received tax abatement incentives from the City of Columbus did not collectively meet new job creation goals in 2020, but “[t]he city still came out ahead” because payroll for the jobs created “was far greater than estimated,” reports. This year’s Tax Incentive Review Council report that was sent to City Council showed employers “reported 8,800 jobs that pre-dated their incentives or were moved” to new sites, more than the promised 8,000, according to the article. Some companies exceeded their incentive agreement job creation goals: UPS created 417 jobs, far above its promise of 25; NetJets pledged 19 jobs and created 173; and Rogue Fitness added 805 jobs on a commitment of 90. For more, read the full article

Economic Development, Financial Incentives, State Updates