By 1808Delaware
A central Ohio company is merging its locations and creating a new national headquarters facility in Delaware County.
In the process the company, Vertiv, is moving its corporate presence from Columbus.
Vertiv designs, builds, and services data, communication, and industrial infrastructure, and employs 20,000 people worldwide. The local operation currently has 350 people working in multiple buildings; this is envisioned to double in the coming years.
The company received a positive response when the City Council in Westerville approved a Community Reinvestment Area (CRA) Agreement and Development and Income Tax Incentive Agreement at last Tuesday’s Council meeting.
The additional local payroll will amount to $35 to $40 million annually, bringing the total to $70 million.
The action will take the current 65% tax abatement on the property and move it to 100% over the next 15 years. The value to the company will be over $1 million, with the City of Westerville could receive up to $14.03 in new and retained income tax.
