Sedgwick Claims Management Services will receive a five-year, 10-percent job-creation tax credit from New Albany for opening an office in the Water's Edge building on Walton Parkway.
New Albany City Council on Oct. 16 approved the incentive package, which requires the company to remain in New Albany for seven years.
The company is expected to create 240 new full-time positions that will generate $9.6 million in annual payroll and an estimated $192,000 annually in income-tax revenue for New Albany.
Jennifer Chrysler, New Albany's community development director, told City Council on Oct. 16 that $67,200 of the income-tax revenue will be shared with the New Albany-Plain Local School District and $38,400 from the revenue will help retire debt issued through the New Albany Community Authority, which paid for New Albany High School, Fodor Road and part of the Plain Township fire station.
Bradley Johnson, executive vice president for Sedgwick's disability and absence management services, said the company is expected to hire the new personnel in 2013. The office is expected to open in January 2013.
Chrysler said City Council on Aug. 7 approved an incentive package for the company to move into the building occupied by Aetna at 7400 W. Campus Road. But the company was unable to finalize an agreement with the landlord.
The August incentive package was a five-year, 20-percent job-creation tax credit. It is negated by the Oct. 16 incentives, said city spokesman Scott McAfee.
"They were considering another location outside New Albany and we came really close to losing them," Chrysler said. "Through the cooperation of the Daimler Group (which built the Water's Edge building) and with the recent incentive package, it was a combination that worked really well for them."
According to Sedgwick's website, the company also is opening an office in Iowa.
Sedgwick specializes in claims related to workers' compensation, short- and long-term disability, Family and Medical Leave Act and general, automobile and professional liability, according to Adam Garn, a Columbus attorney representing the company at the Aug. 7 City Council meeting.
Sedgwick has 150 offices in the U.S. and Canada. It currently has eight in Ohio, in Dublin, Hilliard, Worthington, Canton, Cincinnati, Cleveland, Solon and Toledo, according to the company's website.