Plans to Commit to Dublin Real Estate Through 2019
(Dublin, OH) Dublin City Council will hear details of an Economic Development Agreement (EDA) proposed to the CareWorks Family of Companies at the February 11 regular council meeting.
Dublin City staff has been in discussions with CareWorks regarding potential renewal options for its two facilities on Glendon Court in Dublin. The CareWorks Family of Companies (all headquartered in Dublin) plan to grow both its employee headcount and square footage over the next five years.
According to Dublin’s Economic Development Manager Colleen Gilger, CareWorks was considering several real estate options to accommodate growth. CareWorks currently employs 820 people in Dublin and hopes to create 40 additional jobs with an average annual salary between $48,000 – $50,000 by the end of 2017.
“CareWorks is proud to have been Dublin-headquartered since our creation in 1996. We look forward to further partnering with the City on agreements that support job growth and success for our companies,” said William W. Pfeiffer, Chairman and CEO of the CareWorks Family of Companies.
Gilger said CareWorks is under a current EDA with the City through 2014, tied to company retention, job growth and a five-year lease extension (2010-2014) that was executed in late 2008.
“The current EDA required CareWorks to grow its employee numbers from 600 to 650,” Gilger said. “They have more than exceeded growth expectations. They are also a great corporate business which supports the Dublin community, and have been recognized as a “Best Place to Work” in central Ohio six times.”
The new Economic Development Agreement proposed to CareWorks includes a three-year, 15% Performance Incentive on withholdings collected (2015-2017), which is capped at $395,000 for the term of the agreement, in consideration of the company retaining 820 jobs and creating 40 additional jobs by the end of 2017.
Also proposed is a five-year renewal extension of an Indefeasible Right to Use (IRU) agreement for two strands of DubLink fiber, to run concurrent with the two facility leases through 2019. The company is growing its leasable square-footage in both buildings to include an additional 14,000 SF.