Alliance Data commits to 10 more years in Westerville
With a tax-incentive deal approved by Westerville City Council last week, one of Westerville's six largest employers has committed to staying in the city for at least 10 more years.
Alliance Data was considering a 10-year lease extension for its location at 220 W. Schrock Road when the property owner contacted the city about the possibility of extending a tax deal for the company, according to a staff report to council.
With the extension of a 50-percent income-tax offset for new jobs for the next 10 years, the company was willing to sign a lease agreement through June 30, 2024, said Jason Bechtold, Westerville Economic Development administrator.
The city had a three-year deal in place with the company that was set to expire at the end of this year.
The company expects to add more executive employees to its Westerville location, increasing its payroll by an estimated $17 million, to a total $52 million, by 2024, Bechtold said.
With that growth, the company would provide $6.7 million in total income-tax revenue to the city over the next 10 years, Bechtold said.
The 50-percent income-tax offset on new jobs would provide a $2 million break to the company over the same time period.