Houston company asking Columbus for a tax break for warehouse development
Columbus City Council will decide during Monday's council meeting whether or not to grant a tax abatement to a Houston-based company planning to construct four distribution and warehouse buildings near the Rickenbacker Airport.
Pinchal and Company plans to build the speculative properties on a 182-acre site south of state Route 317 on Lockbourne Road. The area has other distribution centers and farmland around it.
The company plans to spend $130 million to acquire the property, construct the four facilities and make leaseholder improvements. Nearly 3 million square feet are expected to be constructed.
The company said the project will create 349 jobs and generate $10 million annually in new payroll, plus the facilities could draw other positions in the city to the location, a fact sheet about the abatement request states.
The company lists the pay for the 350 new jobs at $15 an hour, for an annual salary of $31,200.
The company would save nearly $30 million in taxes during the 10 years of the 75% tax abatement.
The abatements were tabled when they came before the council in November while the property went through the rezoning process.
The construction is speculative. Pinchal and Company is a real estate investment company. The company has tenants throughout the U.S.
Columbus City Council meets tonight at 5 p.m. in City Hall. The meetings are also available on the city’s YouTube channel.