Business  |  Tax Incentives


VNC BEARING INC. AND VNAC HOLDINGS LTD.
Agreement #023-07-05
Zone 023


Agreement Information

Community: COLUMBUS      ODOD Status: Active
County: FRANKLIN      Agrmt Date: 9/21/2007
Local School District:      Amend. Date:
Nature of Business: WHOLESALE DISTRIBUTION      Expiration Date: 12/31/2015
School Comp Agreement: No      Revenue Sharing: No
Estimated Annual School Compensation SIC Code: 5085

Real Property

Acquisition Improvements New Construction Total
Investments $0.00 $0.00 $2,500,000.00 $2,500,000.00
Exemptions $0.00 $2,500,000.00 $2,500,000.00
 

Personal Property

M & E F & F Inventory Total
Investments $25,000.00 $45,000.00 $2,000,000.00 $2,070,000.00
Exemptions $0.00 $0.00 $0.00 $0.00
 

Incentives

Variable Rate Rate Term
Real No $65.00% 7 yrs
Personal No $0.00% 0 yrs
 

Relocations

From Out of State: No State: Jobs:
In State: No Community: Jobs:
Waiver Issued by ODOD: None
 

Employment

Existing Employment Job and Payroll Commitments
Employment at site: 0      Number Payroll
Employment in Ohio: 7      Retained 7 $300,000.00
     Fulltime Permanent 21 $137,000.00
     Fulltime Temporary 0 $0.00
     Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 36 months
 

Performance/Compliance

 
Agreement Status is: Active
Total full time equivalents at Site: 58      Cumulative Taxes
Jobs Created: 22 Real Property Taxes Paid: $265,018.67
Jobs Retained: 36 Real Property Taxes Forgone: $327,160.90
Total FTE in Ohio: $58.00 Personal Property Taxes Paid: $0.00
New Payroll: $680,718.80 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid:
Real Property: $3,533,122.08 Other Tax Incentives: $0.00
Personal Property: $4,694,926.63 TIRC Date: 8/20/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $45,792.36 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $23,543.08
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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