Business  |  Tax Incentives


ARIEL CORPORATION
Agreement #039-05-02
Zone 039


Agreement Information

Community: MOUNT VERNON      ODOD Status: Active
County: KNOX      Agrmt Date: 3/31/2005
Local School District:      Amend. Date:
Nature of Business: MANUFACTURING      Expiration Date: 12/31/2020
School Comp Agreement: Yes      Revenue Sharing: No
Estimated Annual School Compensation 45892.0000 SIC Code: 3350

Real Property

Acquisition Improvements New Construction Total
Investments $0.00 $50,000.00 $2,000,000.00 $2,050,000.00
Exemptions $50,000.00 $2,000,000.00 $2,050,000.00
 

Personal Property

M & E F & F Inventory Total
Investments $10,000,000.00 $0.00 $500,000.00 $10,500,000.00
Exemptions $10,000,000.00 $0.00 $500,000.00 $10,000,000.00
 

Incentives

Variable Rate Rate Term
Real No $100.00% 15 yrs
Personal No $100.00% 15 yrs
 

Relocations

From Out of State: No State: Jobs: 0
In State: No Community: Jobs: 0
Waiver Issued by ODOD: None
 

Employment

Existing Employment Job and Payroll Commitments
Employment at site: 514      Number Payroll
Employment in Ohio: 514      Retained 444 $37,300,000.00
     Fulltime Permanent 40 $1,800,000.00
     Fulltime Temporary 10 $350,000.00
     Parttime Permanent 0 $0.00
Parttime Temporary 0 $0.00
Job Creation Period: 36 months
 

Performance/Compliance

 
Agreement Status is: Active
Total full time equivalents at Site: 935      Cumulative Taxes
Jobs Created: 50 Real Property Taxes Paid: $1,781,646.57
Jobs Retained: 514 Real Property Taxes Forgone: $74,692.33
Total FTE in Ohio: $1,390.00 Personal Property Taxes Paid: $0.00
New Payroll: $1,968,663.00 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid: $0.00
Real Property: $383,830.00 Other Tax Incentives: $0.00
Personal Property: $0.00 TIRC Date: 3/17/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $178,164.66 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $7,469.23
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid: $0.00

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