Mayor Announces Opportunity For 1,000 New JP Morgan Chase Jobs In Columbus

 

Stepping up Columbus’ fight to create and retain new jobs in the city, Mayor Michael B. Coleman announced JP Morgan Chase Bank hopes to expand its operations, bringing 1,000 new jobs to the city and retaining another 13,000. The mayor and his economic development team have been working with Chase for several months to hammer out a deal. The plan would require City Council approval.

 

“We are committed to the economic growth of our existing and emerging industries, and we are pleased that Chase wants to expand its operations in Columbus,” Mayor Coleman said. “This proposed deal would be a major boost to our three-part plan to sustain our quality of life through new jobs, government reforms and additional revenue.”

 

If approved by council, the city will offer Chase a Jobs Growth Incentive of 35 percent for eight years and a Job Creation Tax Credit of 65 percent for 10 years. As a result of the new jobs, the City would net an estimated $4.5 million in additional income tax over eight years.

 

“Given the current state of the economy, this is great news for the City of Columbus,” said Councilmember Andrew J. Ginther, Chair of the Development Committee. “Chase has a proven track record of being a good corporate citizen, and I appreciate their continued investment in the City. Our Development Department will continue to aggressively pursue companies to locate or expand operations in Columbus and to create jobs for our residents.”