Hilliard technology recycler
Tax incentives could lure e-Cycle to New Albany
Hilliard-based e-Cycle is considering moving its headquarters and distribution center to New Albany.
Company co-founder Tonia Irion said e-Cycle is expanding and needs more space.
"We have a wonderful working relationship with both communities," Irion said. "We're excited about our growth and the ability to add jobs to the central Ohio community."
The company was waiting on approval of state incentives before determining if it will move. The Ohio Tax Credit Authority, which reviews tax credits for the Ohio Department of Development, met Aug. 27 and "agreed to extend and increase (e-Cycle's) tax credit from 40 percent for six years to 55 percent for 11 years. The company will invest an additional $1.5 million to create 233 new jobs and retain 17 existing jobs," according to a release from the Ohio Department of Development.
The release was unclear, however, whether the extension and increase were for e-Cycle to move one or both of its operations to New Albany or keep them in Hilliard. Neither department of development officials nor e-Cycle officials had provided an explanation before ThisWeek's press time. Visit ThisWeekNEWS.com for updates.
E-Cycle's corporate offices and distribution center are on Leap Road in Hilliard. The company is considering moving one or both of the facilities to New Albany, said Jennifer Chrysler, New Albany's community development director.
Chrysler said the company's international growth has prompted a potential move.
New Albany City Council on Aug. 21 approved two incentive packages for e-Cycle:
* A 10-percent income-tax credit on 48 new jobs created if the company moves its corporate office to New Albany. The move would include the relocation of 29 employees to New Albany.
* A 15-percent income-tax credit on 183 new jobs created if the company moves both its corporate office and distribution center to New Albany. The move would include the relocation of 67 employees to New Albany.
Hilliard Economic Development Director David Meeks said Hilliard has made a counteroffer.
"They're on fire and experiencing a lot of growth," he said. "They've been a great corporate citizen (since they opened in 2010 at 4105 Leap Road) and met or exceeded all the targets (of the Hilliard economic-incentive agreement)."
Meeks said the company has a few options.
"There isn't a lot of room to expand (at its current location), but it remains possible we can find a way to meet all their needs in Hilliard," he said. "But they also could move the corporate office to New Albany and leave operations here, or vice versa."
E-Cycle buys mobile phones and other mobile devices from businesses and erases stored data. It disposes of or recycles the devices in "developing countries where the technologies are valued and needed," according to the company's website.
Chrysler said the company started in 2004 and has "contributed more than $15 million back to clients through the mobile-phone buyback program."
ThisWeek reporter Kevin Corvo contributed to this story.