The city of Dublin has approved financial incentives for a Dublin business that plans to more than double its work force in the next five years.
Technology company T-Cetra creates products and services for customers via online portals, smartphones, terminals and kiosks. The business leases space on Emerald Parkway. It employs 87 people and plans to expand to 180 employees by 2022.
T-Cetra has been exploring the purchase of buildings in Dublin and central Ohio, according to a July 27 memo from Dublin city officials to council members.
The retention and expansion incentive, worth $120,000, includes a lump-sum retention grant payment of $35,000 following T-Cetra's acquisition of a minimum 25,000-square-foot facility within Dublin and an approved full-occupancy permit.
T-Cetra is required to own and occupy the facility for 10 years; otherwise the business must pay back the grant to the city.
If the company outgrows or sells the facility and purchases a larger facility within Dublin during the 10-year period, T-Cetra wouldn't be required to pay back the grant.
Also included in the incentive package is a four-year, 18-percent performance withholding tax incentive of $85,000 from 2018 through 2021 that's tied to employee and payroll growth.
The city is projected to net a little more than $1.23 million in tax revenue during the 10-year agreement.