The City of Columbus has created a Tax Increment Financing district on pieces of land near the old Timkin plant site near Cleveland and East 5th Avenues in Milo-Grogan. Rogue Fitness, a Columbus-based manufacturer of fitness equipment, is moving its headquarters from the Northwest side to the plant site. Columbus Development Director Steve Schoeny says some of the revenue generated by the TIF will be used for neighborhood improvements.
Milo-Grogan Area Commissioner Robert Barksdale applauds the TIF.
Earlier this year, the city gave Rogue Fitness a 10 year, 75 percent property tax abatement and a six year income tax rebate to create 90 new jobs at the site. The 7.1 million dollar package of public subsidies will be used to build a nearly 37 million dollar manufacturing and warehouse facility. As part of the package, the city will reimburse the Columbus City Schools for lost tax revenue. Schoeny says the new facility will generate more than 1 million dollars for the school district over the next decade.
