WILMINGTON — Polaris Sales, Inc. in Wilmington is listed among the non-compliant tax credit award recipients identified this month by the Ohio Attorney General’s Office.
The report, which is required to be submitted by the Attorney General to the General Assembly pursuant to statute, analyzes whether companies and organizations that were awarded certain economic development incentives complied with the requirements of those state awards. This November 2016 report reviewed recipients which had performance periods ending in calendar year 2015.
Polaris was awarded a Job Creation Tax Credit of 45 percent for seven years. The company committed to creating 100 jobs, and generating $2.6 million in new payroll. Instead, 79 jobs were created, according to the report.
However, Polaris did meet and surpass the new payroll commitment — generating $2,697,261, stated the report.
Accordingly, Polaris was compliant on new payroll, but non-compliant on jobs.
A Polaris spokesperson stated this week, “While we didn’t reach our headcount goal at our Wilmington distribution center due to business conditions, we are pleased that we actually exceeded our total payroll goal. We are committed to growing our business in Wilmington, as evidenced by us moving our Kolpin business there in 2015, and we look forward to growing our staff in time based on business needs.”
No remedial action will be taken against the company, stated the report.
The Ohio Development Services Agency will not pursue a reduction in the rate or the term due to market conditions, the report added.
A copy of the report is available on the Ohio Attorney General’s website www.ohioattorneygeneral.gov/.