E-Cycle will move corporate offices to New Albany
Hilliard-based e-Cycle has decided to move its corporate offices to New Albany.
"E-Cycle's accelerated growth has resulted in the need to expand our operations department as we continue to hire new employees to meet the demands of our growing list of clients," said Paulie Anthony, company spokesman. "Additionally, our current facility in Hilliard no longer meets the needs of our expanding sales, marketing, information technology, finance and human resource departments."
The company's distribution center will remain on Leap Road in Hilliard.
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.
The company's new office will be at 7795 Walton Parkway in New Albany. Thirty employees are expected to move to New Albany.
"The facility in New Albany provides the modern office, meeting and storage space to accommodate the addition of new business channels and departments, and (it) will enhance the e-Cycle brand," Anthony said. "Coupled with the tax incentives provided by New Albany, the new location is an ideal choice for the future scalability of our business."
New Albany City Council on Aug. 21 approved a 10 percent income-tax credit on 48 new jobs created if the company moved its corporate offices to New Albany. City Council also offered a 15 percent income-tax credit on 183 new jobs created if the company moved both its corporate office and distribution center to New Albany.
In addition, the Ohio Tax Credit Authority on Aug. 27 approved a six-year extension of the company's 40 percent income-tax credit, originally granted in July 2009. The extension increases the credit to 55 percent over the next 11 years. The company has agreed to invest an additional $1.5 million in facilities, to create 233 new jobs and retain 17 existing jobs, according to a release from the Ohio Department of Development.
E-Cycle will hire 135 employees in three years, most of whom will work in Hilliard, according to a company release.
Hilliard Economic Development Director David Meeks said despite the departure of the company's executive level positions, the company's anticipated growth will more than compensate for the loss of corporate staffing.
"It's a good thing for the city," Meeks said. "As we had expected, e-Cycle chose to move (its) corporate jobs to New Albany but kept (its) operations here in Hilliard."
E-Cycle has achieved 959 percent business growth from 2008 to 2011 and created nearly 100 jobs, according to a company release.
Jennifer Chrysler, New Albany's community development director, said the company began operations in 2004 and has "contributed more than $15 million back to clients through the mobile phone buyback program."