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Network Global Logistics Creating Jobs in Central Ohio
Broomfield, CO - February 25, 2010: Network Global Logistics (NGL), a premier provider of supply chain, logistics, and transportation services, was recently awarded a 40 percent job retention tax credit by the state of Ohio.
The tax credit is for a six-year term and is a result of the company’s project in the City of Columbus in Franklin County. The value of the tax credit is estimated at $42,000 over the term, and NGL is required to maintain operations at the project site for eight years. The job creation tax credit was a major factor in deciding to expand operations in Ohio as NGL needed to show a cost benefit to its customer.
This $850,000 project will take place at NGL’s existing 500,000 square foot facility located in Lockbourne, Ohio. Of that $850,000, $400,000 will be spent on systems upgrades, $350,000 in machinery and equipment and an additional $100,000 in leasehold improvements.
NGL will hire both administrative and operations personnel at the project location. 31 new positions will be created and 45 existing positions retained. The 31 new jobs will generate $800,000 in additional payroll within 3 years and retain $2 million in existing payroll over the length of the tax credit.