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Committee backs municipal grant for Today's Classroom headquarters relocation
Summary
The Planning Committee supported a three-year municipal economic development grant that would reimburse Today's Classroom $6,200 per year as it moves its global headquarters to 5771 Mayfair Road, with the company projecting growth from 14 to 20 employees over five years.
The Planning, Community & Economic Development Committee on Tuesday recommended the council consider a three-year economic development grant for Today's Classroom, a company that makes educational furniture and is relocating its global headquarters to Green.
Chair Davidis summarized the proposal, saying Today's Classroom currently has 14 full‑time employees and a payroll of $620,000 and projects growth to 20 employees and an $806,000 payroll over five years. “They're requesting a 3 year municipal economic development grant ... The grant would reimburse $6,200 per year to Today's Classroom,” Davidis said, adding the total reimbursement over three years would be about $18,600.
Committee members raised no substantive objections during the meeting; Davidis said the measure is on 3rd reading and will be moved for adoption at the regular council meeting later Tuesday evening.
If adopted, the agreement is intended to offset part of Today's Classroom’s acquisition and renovation costs for the building at 5771 Mayfair Road and to support local job growth, according to the administration summary presented in committee.
