Tax Incentive Drives New HeadquartersProject

HILLIARD, Ohio - (01/17/06) – City fathers are offering theCredit Union of Ohio a tax break to build a new headquartersbuilding here. The city plans to introduce a proposal next weekthat would provide a 100% property tax abatement on the $2.2million project for as long as 15 years. The abatement would savethe $75 million an estimated $62,500–$31,250, or half, ofwhich it has agreed to contribute to the school system. The 7.5acre credit union site is near the property where BMW FinancialServices is building a new office, near Interstate 270. The creditunion plans to build an 18,000 square-foot building which wouldhouse as many as 40 workers by 2012.