New Albany Ohio Council Approves Abatements for Business District Projects in the area - Central Ohio Real Estate Blog

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New Albany Ohio Council Approves Abatements for Business District Projects in the area

The New Albany Village Council approved abatements for new companies who want to open a research and district in the business park.

Nationwide Mutual Insurance Co. and PharmaForce will spearhead the new district in the ever expanding business community in New Albany.

Nationwide employing 40 people with a payroll of some $2.4 million will generate around $350,000 in taxes and was given a 15 year 65% abatement (tax holiday).  The building which Nationwide would operate out of of is to be around 120,000 square feet and could appraise for around $36 million.

The local council and residents are naturally proud to have a prestigious company such as Nationwide set up shop in the village. PharmaForce was equally exciting, with a 10 year 100% abatement and new corporate offices employing 200!

Definately exciting times for the village. What is for sure is that the local economy is still growing at a fantastic rate!

If you are thinking about relocating to booming New Albany and the surrounding Central Ohio Columbus Metro area then please contact The Raines Group as soon as possible for professional real estate advice in the region.

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