Columbus City Council is looking at an evaluation of its tax incentive program Monday night.
Columbus offers tax abatements to companies in exchange for meeting hiring benchmarks. Council member Michael Stinziano says the annual review was mostly positive.
"We saw that the program continues to work, that it is creating jobs," Stinziano says. "It's investments that are adding employment opportunities and increasing neighborhoods' viabilities."
Still, he notes some businesses aren’t able to hold up their end of the bargain.
"And we understand there's economic factors that go in—maybe where their projections were just off because that industry is having challenges," Stinziano says. "But the goal and the expectations are for both to be partners, continuing to build the partnerships that we see across the city, but that there's going to be accountability."
The city's Tax Incentive Review Council found the vast majority of the 65 agreements are meeting or exceeding their commitments.
Five expired on their own this year, and the group's recommendations include dissolving two others: The Fireproof Partners and Tower 10. The council also tapped 17 agreements for further review.
In all, City Council found companies receiving abatements created almost 2,800 jobs and more than $200 million in annual payroll.
City Council is expected to accept the recommendations.
