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News : Hamilton Council to Consider Tax Break for New Call Center
Hamilton, OH, USA, June 9, 2015 -- A tax credit and reserved parking spaces are being offered to call center company StarTek Inc., which plans to open a location in downtown Hamilton this year.
The pair of deals is listed among agenda items for City Council to consider at its Wednesday night meeting.
Hamilton scored its biggest commitment for new job creation in at least a decade when it was announced in February the Colorado-based company StarTek wants to open a new downtown location.
The new Hamilton call center will create nearly 700 jobs, according to the city
Plans are for StarTek to open after renovations — which are underway — to the former Elder-Beerman building at 150 High St.
Council will weigh whether or not to approve a Job Creation Tax Credit of 75 percent for 7 years for the company, which would be discounted against the local corporate earnings tax bill owed. The city’s economic development department estimates StarTek will generate annual payroll of $15.7 million. Based on that estimate, the value of the tax credit could be worth about $235,407 a year once all 682 jobs are created, according to a city staff report.
Additionally, council will decide whether to approve a lease agreement with the business services company for up to 350 parking spaces at the city-owned George McDulin Memorial Parking Garage at 101 N. Third St. The terms of the proposed lease would have StarTek pay $15 per space a month for 5.5 years, with options to renew the agreement after that. The lease revenues have the potential to generate $63,000 annually for the city, also according to a staff report prepared for the council meeting.
The parking rate of $15 a space is the normal rate charged to parking garage users, but with higher traffic volumes anticipated downtown due to StarTek and Artspace Hamilton Lofts, for example, the lease will reserve the spaces for the company, said Stacey Dietrich Dudas, an economic development specialist for the city.
If council members approve tax breaks for StarTek, it will follow the state’s lead. The Ohio Tax Credit Authority in February already approved a 65 percent, 7-year Job Creation Tax Credit for the project.
Companies only receive job creation tax credits when the jobs are actually created, and not before. Once StarTek creates all 682 new jobs promised, the Ohio Development Services Agency estimates the value of StarTek’s state tax credit to be worth approximately $1.3 million yearly. State tax breaks are claimed against a business’ Commercial Activity Tax bill.
Posted by Veronica Silva Cusi, news correspondent
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StarTek is the customer care expert in business process outsourcing. Our job is to improve and manage the customer experience for our clients. StarTek’s suite of solutions includes sales, order management and provisioning, customer care, technical support, receivables management, and more. We offer clients a variety of multi-channel customer interaction capabilities including voice, chat, email, IVR and back-office support. Headquartered in Denver, Colorado, StarTek has delivery centers onshore, near shore, offshore and virtually through its StarTek@Home workforce.
Published: Wednesday, June 10, 2015