Gahanna could add 395 new jobs and get more than $1.1-million in tax revenue over the next four years if a tax-break deal with NetJets Inc. wins council approval next month.

Gahanna could add 395 new jobs and get more than $1.1-million in tax revenue over the next four years if a tax-break deal with NetJets Inc. wins council approval next month.

Council members and other city officials at a finance committee-of-the-whole meeting Monday night seemed excited by the proposal that would give NetJets a 25-percent rebate on income taxes generated by the company, which wants to expand operations to two vacant adjoining buildings at 800 Tech Center Drive and 775 Taylor Road. The rebate would amount to an estimated $108,000 over the next four years.

Gahanna would get an estimated $324,000 per year in income, property and corporate taxes, with rebate money taken only from income taxes.

"We think this is a good opportunity to keep NetJets in this area," Anthony Jones, deputy director of planning and development, told council.

NetJets, which has about 2,000 employees and has offices on Easton Drive, is a central Ohio company that sells part or fractional ownership in jets to people who want to use the aircraft for business and other purposes.

The city and NetJets have been negotiating for the past month. NetJets also looked at other locations for expansion, officials said, but liked Gahanna's proximity to Port Columbus International Airport. The plan calls for a temporary, four-year stay in Gahanna, with the company leasing those two buildings and then moving to a permanent spot at Port Columbus.

Councilman David Samuel said the city is excited about the opportunity to have NetJets in the community even if it would be for only four years.

Council is expected to vote on the proposal as emergency legislation at its Oct. 6 regular meeting because NetJets officials want to get the buildings leased as soon as possible to begin their expansion.

Initially, 249 new workers could be hired over the next nine months, with the rest phased in, company officials said.

"The company is very excited about this opportunity," said John Oberle, an attorney representing NetJets. "They anticipate the growth in this business will nearly double in the next 10 years."

After the meeting, Oberle called Gahanna the best location for the expansion and said the cost of doing business there was a major factor.

"Any company wants to be fiscally responsible," he said. "Gahanna has a great tax rate and will be a strong partner."

In another matter, Stonehenge Land Co. president Mo Dioun told council a little more about his plans to rezone 10 acres of land on Hamilton Road for limited-overlay multifamily residential.

He told council 180 units are planned for property at 433, 451, 471, 499, 515, 525 and 531 Hamilton Road. That property currently is zoned single-family residential. If the units are used for investment as apartments, rents would range from $700 or $800 a month to $1,500, he said. If the units are sold, they would sell in a price range of $95,000 to $145,000 per unit.

During a public hearing on the housing proposal earlier this month, officials said units would range in size from 700 to 1,100 square feet. This would be a gated community with a clubhouse and would be affordable housing that would appeal to young professionals. Depending on costs, the project could include solar energy to heat water and would have recycling.

Council plans to have a second reading and then vote on the proposal Oct. 6.

In other business Monday, council: