Employment
According to the CIP application, the proposed development would retain 55 jobs, which would be transferred from a number of existing NARMCO facilitates and create 10 jobs at 3260 Devon Drive. In addition to the jobs located at the subject property, the administrative function of the new headquarters would oversee 550 employees currently working within the City of Windsor.
Proposed Construction
The applicant proposes to renovate 766 square metres (8,245 square feet) of existing office space and construct 1,348 square metres (14,510 square feet) of new office space to house corporate and executive staff. Site improvements (e.g. parking area, infrastructure) will also be part of the project.
CIP Objectives
The proposed redevelopment of the building located at 3260 Devon Drive for use as NARMCO’s administrative headquarters and recommended Business Development Grant supports the following CIP objectives:
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Encourage investment that results in the productive use of lands and/or buildings for the purposes of establishing or maintaining a business enterprise, or the expansion of existing businesses to realize more effective use of the land’s potential;
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Encourage capital investments that create new and/or maintain existing permanent jobs, as well as short-term construction jobs that contribute to the reduction of the unemployment rate;
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Provide financial incentive programs that are attractive to potential investors and corporate decision-makers, but are balanced with expectations of City taxpayers and the City’s ability to fund the financial incentive programs;
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Encourage the redevelopment of the City’s historic industrial sites resulting in the continued or renewed productivity of these sites; and
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Support investment and development that results in an increase in property assessment and grows the non-residential municipal tax base over the long-term.
RISK ANALYSIS:
There is little risk associated with the approval of the CIP application. Staff resources are required for the upfront administration of the grant program and finalization of the legal agreement. Limited staff resources related to on-going monitoring of the employment use and issuance of annual grants will also be required over the next ten years. Should Council refuse the CIP request NARMCO may decide to invest outside of Windsor.