Business  |  Tax Incentives


VALLEY ELECTRICAL CONSOLIDATED, INC. AND BELMONT PROPERTY OF LIBERTY, LLC
Agreement #111-13-01
Zone 111


Agreement Information

Community: HUBBARD      ODOD Status: Active
County: TRUMBULL      Agrmt Date: 7/17/2013
Local School District:      Amend. Date:
Nature of Business: INDUSTRIAL      Expiration Date: 12/31/2025
School Comp Agreement: Yes      Revenue Sharing: No
Estimated Annual School Compensation 50.0000 SIC Code: 1731

Real Property

Acquisition Improvements New Construction Total
Investments $0.00 $0.00 $1,750,000.00 $1,750,000.00
Exemptions $0.00 $1,312,500.00 $1,312,500.00
 

Personal Property

M & E F & F Inventory Total
Investments $350,000.00 $0.00 $0.00 $350,000.00
Exemptions $262,500.00 $0.00 $0.00 $262,500.00
 

Incentives

Variable Rate Rate Term
Real No $75.00% 10 yrs
Personal No $0.00% 0 yrs
 

Relocations

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

Employment

Existing Employment Job and Payroll Commitments
Employment at site: 20      Number Payroll
Employment in Ohio: 213      Retained 20 $1,226,366.00
     Fulltime Permanent 30 $2,433,600.00
     Fulltime Temporary 0 $0.00
     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: 0      Cumulative Taxes
Jobs Created: 20 Real Property Taxes Paid: $37,378.00
Jobs Retained: 20 Real Property Taxes Forgone: $0.00
Total FTE in Ohio: $161.00 Personal Property Taxes Paid: $0.00
New Payroll: $413,891.50 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid:
Real Property: $3,300,000.00 Other Tax Incentives: $0.00
Personal Property: $432,293.00 TIRC Date: 6/8/2015
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $28,778.30 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $0.00
Personal Property Taxes Paid: $0.00 Annual Report Year: 2015
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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