With no discussion, City Council introduced legislation at its recent meeting to approve a job creation grant for Performance Health, Inc.
Legislation states the company has tentative plans to purchase an office building to serve as its corporate headquarters, relocating 59 employees with a payroll of approximately $3.7 million. Legislation further reads that Performance Health could add 50 employees, bringing its payroll to $6.1 million.
Under the terms of the grant as presented in legislation last week, the city would pay Performance Health an amount equal to 50% of its municipal income taxes beginning in 2023. The term of the grant is 10 years.
Council scheduled a finance committee hearing for Tuesday to discuss the grant. That meeting happened after presstime.
North Olmsted Director of Planning and Community Development Kim Lieber declined to comment on the grant. Performance Health did not respond to a request for comment.
According to the company website, Performance Health produces medical rehabilitation equipment with its headquarters outside Chicago.