Mr. Williams said that the proposal to expand the EquipmentShare program in the
Columbia area has been going on for over a year. The location of the project is South of
Highway70 and is in Ward 3.
Williams covered the financial impact section of the project presentation where he
suggested that EquipmentShare covers 75% of payment, which is intended for
companies that have an estimated income of above 100 million. An average wage of total
new jobs averaged above county wage and will add at least 100 new jobs. A letter from
Boone County Commissioner Janet Thompson states the support of the 75% of payment
is intended for any company new or existing that meet those levels of investment and job
creation.
Estimates of the property tax over the next 10 years were presented by Regional
Economic Development Inc. The presented tax estimates are newly generated and do not
have any impact on the already existing taxes. The estimated additional new property
taxes is estimated to be 2,380,000 in the next 10 years. Of this amount, the City of
Columbia will receive $123,328. For now the greater impact for the city is the additional
sales tax revenue generated from the substantial increase in employment created by the
new investment. Workers will be shopping in local businesses in and around the city,
restaurants, and housing.
EquipmentShare is a nationwide technology company that can potentially support the
City of Columbia in becoming a place of innovation. It is a construction equipment
company dedicated to increasing productivity through smart jobs in technology and
equipment rentals, retails and services that integrate the internet for construction.
The current problem the company faces is the limited space. This company is growing
and the current space does not accommodate the amount of work it does in Columbia.
Columbia, Missouri has been the main location the Board of EquipmentShare has
proposed to expand. With Council support, the company’s Vision is to build a destination
for a successful business in this community. This facility will help in adding over 100 high
paying engineering and analytics jobs. More jobs will be created and will employ staff
with various backgrounds including human resources, IT, transportation, business
developers, accountants, and mechanics, just to name a few.
Mayor Buffaloe asked for clarifications on what the conversation has been about between
the company and main beneficiaries such as the school district and how the partnership
works.
Williams responded that the conversation has been focused on collaborations.
Mayor Buffaloe asked if Boone County has been involved with designing performance
agreements that include partnerships with local job advertisement groups such as
jobpoint.
Williams said by adding two components stated in the agreement,the investment
level,the commitment to investment and the commitment to job creation, the company
will report annually the number of employment opportunities.
Council member Nick Foster asked for clarification about the issues of Diversity and how
the company has prepared itself to address diversity for the underrepresented
communities and what impact this project will have on these communities.
Ms. Susan responded that in this particular presentation the focus is only given to
diversifying the workforce mainly focused on gender representation. This topic will be
included in future presentations. The company currently has an employee who can