Red Roof Inns, Inc., to be located in Columbus (Franklin County), has been awarded a 50 percent tax credit for a five-year term to establish a new headquarters operation. The value of the tax credit is estimated at $550,481 over the term, and the company would be required to maintain operations at the project site for 10 years.

Red Roof Inns was incorporated by founder James R. Trueman in 1972 and the company's first Inn opened in Columbus in 1973. Today, Red Roof Inns has more than 350 locations, serves millions of guests each year, and employs more than 6,000 people. Red Roof Inns expects to continue to grow through franchising, acquisitions, and new development.

The company proposes to lease a 20,000-square-foot facility and acquire machinery and equipment, and furniture and fixtures. The facility will be utilized for administrative and headquarters functions.

Ohio is in competition with Texas for this more than $200,000 project, which is expected to create 80 jobs and retain 37 positions within the first three years of the project's initial operations.

The Job Creation Tax Credit is a refundable tax credit against the business corporate franchise or income tax. The credit equals a percentage of new state income tax withheld on new, full-time employees in Ohio.

The Ohio Tax Credit Authority is a five-member independent board consisting of taxation and economic development professionals from throughout the state that is responsible for reviewing and approving applications for state tax credit assistance. The Authority also has oversight responsibilities that include monitoring and reporting the progress of approved tax credit projects.

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