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The Amazon Monroe 13 Year Guarantee

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    Posted: Nov 17 2017 at 1:03pm

The Amazon Monroe facility will be a 1+ Million square foot facility near Interstate 75 at 700 Gateway Blvd at Park North in Monroe. The developer is Atlanta-headquartered IDI Gazeley who develops warehousing, distribution and manufacturing facilities around the world, and specializes in sustainable warehouse development.

The nearly 1000 Monroe employees will unload, store, organize, pick, pack and ship Amazon orders.

The Ohio Tax Credit Authority approved a 1.39 percent, 10-year tax credit for the Amazon facility that is expected to create $26.7 million in new payroll and be a $30 million fixed-asset investment. The tax credit starts in January 2018.

The Ohio Tax Credit Authority requires Amazon to maintain Monroe Amazon operations for at least 13 years.

Public records also show the developer, referred to as “Park North 6 LLC” entered into a separate agreement with the city of Monroe through a Community Reinvestment Area Agreement (CRA). The CRA stated the cost of site development and construction of a new building will likely exceed $70 million. The developer estimated that the development process will create 170 full-time jobs with an aggregate annual payroll of approximately $5.1 million.

Under the agreement, the developer received a 100 percent tax exemption for real property improvements made to the project site for 15 years.

The expected Amazon Monroe project completion date is Dec. 28, 2018, and the “tenant improvement portion” of the project will be completed no later than Feb. 1, 2019.

Sources: City of Monroe, Kara Driscoll, Staff Writer Dayton Daily News

Posted for community discussion. 

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