New Albany courting supply-chain company
City officials say MXD Group and its parent company are considering joint headquarters
The MXD Group of Westerville, formerly known as Exel Direct, and its parent company, Platinum Equity, are considering a lease on two buildings in New Albany for a joint headquarters, according to New Albany officials.
Jennifer Chrysler, New Albany's community development director, said Exel Direct, a specialty delivery and supply-chain company recently rebranded as MXD Group, was bought by Platinum Equity on June 1.
Company officials began looking for a new location for "both headquarters and call-center functions" at that time, Chrysler said.
New Albany City Council on Sept. 3 approved a 10-percent income-tax credit for five years for the 95 new jobs that would be created with the move.
City Council voted 5-0 in favor of the incentive, with Mayor Nancy Ferguson and Colleen Briscoe absent.
Renee Albarano, chief financial officer of the MXD Group, said the company is negotiating with two landlords and brokers for two locations in New Albany. She said the company would move by the end of the year if a lease agreement is reached.
The move would create 95 full-time jobs within the next three years, bringing an estimated annual payroll of $5.7 million, according to Chrysler's legislative report to City Council.
Chrysler said in the report the jobs would include "managerial and executive functions in support of the headquarters and operational and administration functions in support of the call center."
If company officials decide to move to New Albany, MXD Group will relocate 45 full-time employees and the annual payroll of $3.6 million to the New Albany building. However, Chrysler said, in the report the incentive is not applicable to the relocated employees.
The move would include relocating relocate 45 full-time employees and the annual payroll of $3.6 million to the New Albany building from the Exel Direct facility in Westerville.
The company is not eligible for an income tax credit for the existing jobs, said Jennifer Chrysler, New Albany’s community development director.
The incentive approved Sept. 3 requires the company to lease a site in the city for at least seven years, use the city's fiber-optics network and participate in the nonprofit Healthy New Albany community wellness initiative.
The project could generate an estimated $1.2 million in income-tax revenue during the seven-year lease, according to the legislative report.
Chrysler's revenue breakdown was as follows: $414,000 of the revenue would go to the city's general fund; $414,000 would be shared with the New Albany-Plain Local School District; and $275,000 would go to the New Albany Community Authority to help pay off debt the authority incurred building infrastructure for the city's business parks.