HII, a global engineering and defense technologies provider, has identified a site at 2310 National Road for possible relocation, said Cherise Schell, Fairborn assistant economic development director.
The business could receive up to $214,734 over five years if it moves, Fairborn records show.
“The amount of the annual incentive payment is determined based on (the) percentage of the total amount of income taxes collected by the city that are generated specifically based on the city’s 1% income tax in the previous year,” Schell said.
The other half of the city’s 2% income tax rate — which is dedicated to police, fire and streets — is not calculated in the incentive, Schell said.
A message left by this news organization with HII has not been returned.
HII initially proposes to bring 64 jobs in the first year and employ 71 by the fifth, Fairborn records show. It would receive no incentive payments the first year, but those funds would annually range from $39,506 to $44,440 the next four years.
The incentives would be equal to 52% of the company’s contribution to Fairborn’s earned income tax for those years, according to city records.
The incentives are part of a business growth initiative overseen by the Fairborn Development Corp., according to a measure Fairborn City Council approved Monday night supporting the application for incentives.
About the Author
