With the help of a $75,000 city venture grant, Insight Bank might purchase and move to offices at 140-150 W. Wilson Bridge Road.

With the help of a $75,000 city venture grant, Insight Bank might purchase and move to offices at 140-150 W. Wilson Bridge Road.

Insight is under contract to buy the building from the Worthington Square owners, who purchased the old Dalt's restaurant and the building next door, along with the mall, in December.

Like Worthington Square owner Tom Carter, Insight president and CEO Harvey Glick is a Worthington resident.

The city has worked with Glick in the past. In 1999, he and a group of former State Savings officials founded Prospect Bank, which they opened in the former Bill Knapp's restaurant on North High Street. The bank was sold to Sky Bank in 2006, and the building currently is a Huntington branch.

Insight is on Orion Place in the Polaris area.

The bank's headquarters will be in the brick building next to the former Dalt's, and a branch bank will be in the former restaurant.

Worthington City Council on March 21 introduced an incentive package that would provide Insight with an upfront single payment of $75,000 after Insight has moved to Worthington. A public hearing before council was set for April 4.

In exchange, the company will enter into a seven-year agreement bound by payroll commitments.

The bank has pledged to immediately move about 30 employees to the Worthington site and to add another 20 positions over seven years.

According to Worthington economic development director Jeff Harris, moving the corporate headquarters from Columbus to Worthington would greatly enhance the city's income-tax collections.

Corporate headquarters frequently are sought by municipalities because of the relative high incomes of office-support personnel and corporate officers.

The retail bank branch positions, traditionally lower paid, were not included in the calculation for the venture grant award, according to Harris.

The sale also will result in the reuse of a long-vacant Wilson Bridge corridor property, and proceeds will go toward the redevelopment of the mall.

Carter, who, along with Texas-based Morris Capital Partners, purchased the mall last year, plans to redevelop the mostly vacant property into a thriving community retail and entertainment center.

"I am excited to see Insight Bank move their headquarters here," he said in a written statement. "We believe the location adjacent to Worthington Square helps to energize the property and offers amenities like shopping and dining to bank employees and customers."

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