Incentives to be considered for medical company
June 14, 2012 by Mark
An incentive plan is expected to be voted on at dublin’s City Council meeting on Monday, June 18. The five-year incentive package is being introduced as a way to persuade Bound Tree Medical to bring its planned expansion and consolidation of an existing facility in California to the Dublin area.
Bound Tree Medical is headquartered in Dublin on Tuttle Road Crossing. Also referred to as Sarnova, the company provides acute-care products and emergency medical items. It currently employs approximately 150 workers at the headquarters in Dublin. The company announced in a memo to the city council that it has plans to consolidate its California facility to one of its other facilities in Wisconsin, Pennsylvania or Dublin.
Large companies in the Dublin and surrounding area who either expand their facilities or move to another location in the city often require business card printing , stationery printing, and a number of other printing services from local print companies. Modifications to existing business materials are often necessary to reflect new addresses and other contact information, as well as to establish the business in a new area. Companies that consolidate their business and bring in a number of new positions and other changes to the company often require similar printing services.
The proposed incentive package includes a 25% performance incentive. This performance incentive would apply to withholdings on income tax withheld from 2012 until 2016. Michael Clarey, Economic Development Administrator for Dublin, stated that this would net the city approximately $137,883 in withholdings on income taxes.