JPMorgan Chase intends to begin hiring as soon as July for as many as 1,000 jobs it expects to bring to Gahanna at 800 and 825 Tech Center Drive.

JPMorgan Chase intends to begin hiring as soon as July for as many as 1,000 jobs it expects to bring to Gahanna at 800 and 825 Tech Center Drive.

Shawn J. Bunt, Chase vice president, told ThisWeek Gahanna's location was key in proposing to lease 122,000 square feet at Tech Center Drive for a two-year term, with options to lease up to five years. He said the facility would be rehabilitated inside, and then Chase would start hiring, probably by July.

"We looked for space throughout central Ohio," he said. "We know it's a great place to do business. We know the workforce. We needed enough parking spaces for 500 to 1,000 folks."

JPMorgan Chase is a global financial-services firm operating in more than 60 countries, with more than 200,000 employees worldwide. The company provides services in investment banking, financial services for consumers, small-business and commercial banking, financial transaction processing, asset management and private equity.

Gahanna development director Anthony Jones recommended to council that the city enter into an Office & Industrial incentive agreement with Chase for the proposed expansion project.

The office facilities would allow Chase to expand its mortgage business operations by adding 500 jobs with an average salary of $40,000, with a possibility of adding a total of 1,000 jobs in the city.

Jones said the project would generate about $20 million in annual payroll within the city of Gahanna. The total incentive payment to the company would be $150,000, and the net income-tax revenue to the city would be $450,000 over the two-year lease term, he said.

The incentive advisory board met April 21 and voted to recommend the project for a 50-percent O&I incentive for a term of up to five years for the creation of 500 new jobs at an average annual payroll of $40,000 each.

Mary Kay Bean, of Chase media relations, said the deal "reaffirms our intent to bring mortgage service employees to the area to help our customers."

Jones said Gahanna has been working with Chase for a few weeks and that city officials thought Gahanna had a competitive product. Some of those advantages, Jones said, were the availability of high-quality office space, ample employee parking, connectivity to Gahanna's fiber-optic infrastructure (GahannaNet) and the site's accessibility within the region.

Bunt said the development department and Mayor Becky Stinchcomb have been "fabulous" to work with on all levels.

Council member David Samuel said Gahanna is user friendly, allowing prospects to do business all in one stop, from zoning to development. He asked if Chase would be the top employer in the city.

"They would be in the top 10," Jones said. "They will bring 500 to 1,000 jobs, depending on demand. They don't want to oversell and under-deliver. There will be a big impact on our revenue stream."

Council member Shane Ewald said the jobs brought by Chase would benefit surrounding businesses, as well as Gahanna's taxpayers.

Finance committee chair Beryl Anderson asked how the new location relates to Chase's Polaris location.

"Polaris holds a lot of different lines of business for the company, from legal to technology," Bunt said. "A lot are related to retail. (Addresses) 800 and 825 (Tech Center) are really related to Chase Home Finance, with everything related to mortgages."

"We see this as a win-win," Anderson said. "We look forward to future opportunities."