Business  |  Tax Incentives

Velvet Ice Cream Company
Agreement #202-15-01
Zone 202

Agreement Information

Community: Utica      ODOD Status: Active
County: Licking      Agrmt Date: 10/21/2015
Local School District: North Fork Local SD and Career and      Amend. Date:
Nature of Business:      Expiration Date: 12/25/2025
School Comp Agreement: No      Revenue Sharing: No
Estimated Annual School Compensation SIC Code:

Real Property

Acquisition Improvements New Construction Total
Investments $500,000.00 $1,800,000.00
Exemptions $500,000.00 $1,800,000.00 $2,300,000.00

Personal Property

M & E F & F Inventory Total


Variable Rate Rate Term
Real No $0.00% yrs
Personal No $0.00% yrs


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


Existing Employment Job and Payroll Commitments
Employment at site:      Number Payroll
Employment in Ohio:      Retained 81 $391,000.00
     Fulltime Permanent 2 $64,000.00
     Fulltime Temporary
     Parttime Permanent 4 $72,000.00
Parttime Temporary
Job Creation Period: months


Agreement Status is: Active
Total full time equivalents at Site: 77      Cumulative Taxes
Jobs Created: 6 Real Property Taxes Paid: $177,816.00
Jobs Retained: 0 Real Property Taxes Forgone: $34,211.00
Total FTE in Ohio: $103.00 Personal Property Taxes Paid: $0.00
New Payroll: $135,341.00 Personal Prop. Taxes Forgone: $0.00
Project Investment Local Corp Income Taxes Paid:
Real Property: $2,122,695.00 Other Tax Incentives: $0.00
Personal Property: $967,653.00 TIRC Date: 3/27/2018
Previous Year Taxes TIRC Recommendation: CONTINUE
Real Property Taxes Paid: $81,312.00 Local Gov't. Action/Status: CONTINUE
Real Property Taxes Forgone: $15,715.00
Personal Property Taxes Paid: $0.00 Annual Report Year: 2017
Personal Prop. Taxes Forgone: $0.00
Local Corp Income Taxes Paid:

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