Introduction | Economic Development Insight | Business Survey
Economic Development InsightIntroduction | Financial Considerations | History of Economic Development | Master Plan | Commercial Districts | Mixed-Use Development | Market AnalysisHistory and Overview of Economic Development in Upper Arlington- Economic Development History- Economic Development Goals Mirror Community's Wishes - Economic Development Incentives - Recent Highlights/Achievements - 2003 Highlights - 2004 Highlights - Testimonials 2004 Economic Development Highlights- Arlington Falls, LLC completed construction of the first of five proposed buildings in the fall of 2004, at the Arlington Office Park. Earlier in 2004, the City approved two incentives for the project. The first, tax increment financing, was approved for the entire 68,000-square foot project to fund public improvements in the area. The second, a 40% 10–year tax abatement on real property improvements for Building 1, was approved and will be assigned to the new owners of the building. Arlington Falls submitted an application for a 40% 10-year tax abatement on real property improvements for Building 2 in November 2004, with final City Council approval anticipated in January 2005.- Sunny 95 moved into its expanded facility October 2004. This exciting project represents $3 million in retained payroll, with more than $1.8 million additional payroll anticipated. - Staff continued to work with several Lane Avenue property owners regarding annexation to the City from Clinton Township. Pre-annexation agreements with various property owners were executed in 2004. Efforts to bring this project to conclusion will continue in 2005. - Professional Planning Consultants, bringing over $2 million in annual payroll to the City, moved into its new offices as 5000 Horizon Drive spring 2004. - The City authorized a Large Business Loan/Grant to AMC Registry Inc. AMC relocated from Columbus to the City in November 2004. - The City authorized a Direct Venture Investment to Lane Avenue Office Building, LLC. This exciting project represents the first new office construction on Lane Avenue in decades. To accommodate the project, three existing dated office buildings will be demolished. In their place, a 57,000 square foot office building will be constructed. The Development Department for The Ohio State University has entered into a 15-year lease for the entire building. This division is expected to bring an annual payroll in excess of $5 million into the City. - The City granted a non-school tax increment financing incentive to First Community Village to support its $40 million expansion. This type of incentive does not include the school’s millage. Matt Shad Deputy City Manager-Economic Development City Manager's Office City of Upper Arlington 3600 Tremont Road Upper Arlington, Ohio 43221 Phone: 614-583-5046 www.ua-ohio.net |
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