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JPMorgan Chase Awaits Incentive Package Approval To Establish Dublin, Ohio Corporate Campus

05/16/2013
JPMorgan Chase is interested in establishing a corporate campus in a 165,000 square-foot building recently vacated by Nationwide Insurance, at 5900 Parkwood Place in Dublin, Ohio, if state and local officials approve a package of incentives.

According to City of Dublin Economic Development Manager Colleen Gilger, JPMorgan Chase reached capacity at its current facilities and plans to bring 500 new jobs to the region. The firm has been in discussion with the City in a package of incentives. Dublin City Council will hear details of an Economic Development Agreement proposed to the JPMorgan Chase Bank at its May 20 Council meeting. Council members will take action on the Economic Development Agreement at their second reading during the June 10 Council meeting.

According to city records, Economic Development Agreement proposed by the City of Dublin to JPMorgan Chase includes; a $40,000 Location Grant and a two-year performance incentive of 15 percent for a three-year lease, from July 2013 to July 2016, with an additional two-year performance incentive of 15 percent if an additional three-year lease extension from July 2016 to July 2019 is executed. Total incentive value is $465,000.

“We are thrilled to have JPMorgan Chase expand their central Ohio corporate presence by selecting one of our Class A buildings with prime highway access and visibility,” said Gilger. “We welcome this leading global financial service firm to our community and look forward to working with them as a corporate and community partner.”

“Our expansion into Dublin provides us with the space and flexibility to continue our growth in central Ohio,” said Chris Sieve, CIO, Consumer and Business Banking. “Our roots are deep in this community. We take great pride in helping feed the local economy as an active employer, lender, and corporate citizen.”

Columbus 2020 Chief Economic Officer Kenny McDonald said this is great news for the region. “We are proud to count JPMorgan Chase among our area’s top employers and we thank them for their continued investment in the Columbus Region.”

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