Two incentive packages approved by Dublin City Council this week are expected to net the city more than $2 million in income-tax receipts over the term of the agreements.

Two incentive packages approved by Dublin City Council this week are expected to net the city more than $2 million in income-tax receipts over the term of the agreements.

Council on Jan. 23 unanimously approved economic development agreements with Pacer International and ASK Chemical.

The agreement with Pacer International will keep the headquarters of the shipping company in Dublin and retain 397 jobs.

Mike Gordon, Pacer's vice president and corporate controller, told council the company had moved its headquarters to Dublin in 2010 and continues "to move more and more functions into the Dublin facility.

"We look forward to expanding further," he said, noting that the accounting department is being moved to Dublin.

Pacer International is "a leading global door-to-door solutions provider, offering a broad array of services to facilitate the movement of freight from origin to destination through its intermodal and logistics operating segments," the staff report to council stated.

The economic development agreement consists of a two-year, 10-percent performance incentive on income-tax withholdings collected by the city, capped at $114,000.

Per the agreement, Pacer will retain 397 jobs and create 50 new jobs in Dublin by the end of 2013. Dublin in turn will reimburse the company 10 percent of its income-tax payments up to $114,000 if Pacer meets its agreement obligations.

Pacer also may receive a performance-incentive bonus year in 2014 - capped at $60,000 - if it signs a five-year lease extension in Dublin by 2014. The company's existing lease on Perimeter Drive is not set to expire until 2016.

Mayor Tim Lecklider praised the business' decision to remain in Dublin.

"It's a great business, almost an icon and certainly an anchor at Perimeter West," he said.

Economic development manager Colleen Gilger told council that ASK Chemicals operates in 24 countries and wants to open at 495 Metro Place South.

According to Will Brenner, ASK senior manager, the company is an Ashland Chemicals spinoff and must find its own home.

Dublin was chosen because most employees at the existing office on the Ashland Chemicals campus live in or around Dublin.

The approved economic development agreement includes a five-year, 12-percent performance incentive on income-tax withholdings collected by the city between 2012 and 2016. Per the cap in the agreement, Dublin will pay the company no more than $67,500 over the term of the agreement. In return, ASK Chemicals must retain 69 jobs and create four new jobs in Dublin by the end of 2016.

Dublin expects to net $495,406 in income-tax withholdings during the deal, according to the staff report to council.