Navidea Seeks Expansion; India-Based Persistent Systems opening Midwest regional IT office
(Dublin, Ohio) – At the July 1 Dublin City Council meeting two economic development agreements (EDA) are on the agenda that will bring 50 new jobs to Dublin and the region and retain and expand the footprint of an existing Dublin business.
Navidea Biopharmaceuticals seeks an expansion which includes the addition of 20 new jobs and additional corporate office space in Dublin. The EDA proposed to Navidea includes a five-year, 10% Performance Incentive on 2014-2018 withholdings collected, capped at $92,000 for the retention of 40 full-time jobs and the creation of 20 new full-time jobs by the end of 2019. Navidea must also commit to a minimum seven year lease agreement for a building located in Dublin.
“Navidea is pleased to be partnering with the City in continuing our growth here in Dublin and supporting job creation in the region,” said Brent Larson, Executive Vice President and CFO of Navidea Biopharmaceuticals. “We are proud to have Dublin as our base of operations since 1994 and look forward to many more years benefitting from the region’s outstanding assets.”
Navidea Biopharmaceuticals is a biopharmaceutical company focused on the development and commercialization of innovative precision diagnostic agents for those impacted by cancer and Alzheimer’s disease. In March 2013, Navidea’s Lymphoseek® radiopharmaceutical agent received US FDA approval for use in lymphatic mapping procedures to assist in the localization of lymph nodes draining primary tumors for patients with breast cancer or melanoma.
Persistent Systems, a global software product development company based in India with U.S. headquarters in California, has plans to open a Midwest regional office in Dublin. The company received approval from the State of Ohio Tax Credit Authority on June 24, 2013 for a 45% tax credit for seven years tied to the creation of 30 new IT jobs.
Dublin’s proposed economic development agreement to Persistent Systems includes a four-year performance incentive of 15% for a five-year lease, valued at $26,000. The company plans to select its Dublin office location by August 1, 2013.
Council will vote on both EDAs at the August 12 meeting.
For more information on the proposed EDAs and full ordinances – go to: http://dublinohiousa.gov/dev/dev/wp-content/uploads/2013/06/Ord63-13.pdf
For more information, contact Sue Burness firstname.lastname@example.org 614.226.5382 Twitter/@sueburness @dublinohio
About the City of Dublin, Ohio USA
Dublin, Ohio, the city that’s “greener,” offers residents and corporate citizens responsive government services, attractive housing, superior public education, direct regional highway access, 120 miles of underground optical fiber network, abundant park space and a dynamic community life. Located just minutes from Ohio’s capital city of Columbus, Dublin is a desirable place for business, raising a family or enjoying professional sporting events and renowned attractions. More information about the City of Dublin at www.DublinOhioUSA.gov