JPMorgan Chase will bring 500 new jobs to Dublin as soon as July.
Incentives that will bring 500 jobs to 165,000-square-foot office space previously occupied by Nationwide for at least three years were approved by Dublin City Council members June 10.
"JPMorgan Chase continues to grow in central Ohio," said Colleen Gilger, Dublin's economic development manager. "They'll go into 165,000 square feet at Parkwood Place later this summer."
The company has about 19,000 employees in the central Ohio area and offices in Polaris, Westerville and Easton. The Dublin office is planned to be open between July and October.
"The company plans to grow its regional headcount by 500 employees and desired additional square footage in the region marketplace," a Dublin staff report to council states. "The company's existing facilities in central Ohio cannot absorb an additional 500 new jobs."
Dublin will give the financial services company a $40,000 location grant and two-year, 15 percent performance incentive in income tax withholdings if the company signs a three-year lease from 2013 to 2016.
The company can get another two years of 15 percent performance incentives on income tax withholdings if another lease through 2019 is signed, Gilger said.
Dublin anticipates paying the company as much as $465,000 in incentives over six years if two, three-year leases are executed. In turn, the city expects to take in $3.1 million in income tax revenue over the term of the agreement.
"We sincerely appreciate the partnership with all of you in the city," Shawn Bunt, vice president of government relations at Chase, told council members. "We're really looking forward to moving in and being part of the Dublin family."
"We're very excited about these jobs coming to the city of Dublin," Mayor Tim Lecklider said. "When you expand in the future, we hope you consider bringing those jobs here."
Companies moving to Dublin often use the fiber optic system, DubLink, and Council Member John Reiner asked if the company plans to tap in.
"I think it's a wonderful, very attractive feature for many companies, including ours," Bunt said. "It's something we're going to take a very close look at."
Councilwoman Marilee Chinnici-Zuercher mentioned the company's support of charities.
"We have a lot of opportunities," she said.
According to Bunt, Chase spends about $5 million on philanthropic endeavors in Ohio and will look into Dublin's offerings.
"Ohio is a very special place for our company," he said.