Dublin is hoping to lure a research and development headquarters to the city along with 77 new jobs.
Dublin City Council members this week heard about an incentive package to bring G-TEKT North America to the city and approved incentive packages for two other companies.
G-TEKT is a Japan-based auto parts company that has been looking for a North American research and development headquarters location.
"This is a major supplier to our friends in Marysville, Honda," Economic Development Administrator Jeremiah Gracia told council.
The Dublin location would design and develop parts and manufacture equipment for other North American companies, the staff report to council said. The company has other locations in West Jefferson, Georgia, Indiana, Michigan and Ontario, Canada.
The incentives that could be offered to the company include a five-year, 12-percent break on income taxes collected by the city from 2014 to 2018, with a cap of $69,000.
In return, the company must purchase a location in Dublin and create 77 new jobs in the city by the end of 2014.
Dublin could collect as much as $400,800 in income tax withholdings from the company during the agreement, Gracia said.
The city could also offer a $30,000 location grant that would be tied to the purchase and renovation of a 30,000-square-foot building.
Gracia said the company is planning to purchase a building on Cramer Creek.
"Renovations will start very soon," he said.
Dublin City Council members are expected to vote on the incentives for G-TEKT Sept. 9.
Council also approved economic development deals with Decillion Healthcare LLC and ProspeX LLC.
If Decillion Healthcare opens an office in Dublin and creates 22 new jobs by 2018, Dublin will give the company a seven-year, 12-percent performance incentive on income tax withholdings, which is capped at $21,000.
The company must sign a 10-year lease and is looking at a 9,000-square-foot location in the Blazer Research District, staff reports to council said.
The city expects to collect about $130,700 from the company in income tax withholdings from the company over the term of the agreement.
The package approved for ProspeX will help the company relocate from the Dublin Entrepreneurial Center on Post Road that was purchased by Ohio University to a new 5,000-square-foot office.
The business services firm will retain 25 jobs and create 27 new positions during the three-year agreement. In return, Dublin will offer a $2,500 location grant and three-year, 15-percent performance incentive on new income tax withholdings created by the company.
Dublin could collect about $612,000 in income tax withholdings from the company.