Approves a contract with Panasonic Energy Solutions Company (PESCO) to provide a $1.35 million Business Incentive Fund (BIF) reimbursable grant for the purposes of creating 250 jobs at their business solutions, operations and technology center, located at the 61st and Pena Boulevard light rail station in Council District 11.    (BUSINESS DEVELOPMENT) Approves a contract with Panasonic Energy Solutions Company (PESCO) to provide a $1.35 million Business Incentive Fund (BIF) reimbursable grant for the purposes of creating 250 jobs at their business solutions, operations and technology center, located at the 61st and Pena Boulevard light rail station in Council District 11. The last regularly scheduled Council meeting within the 30-day review period is on    .  The Committee approved filing this bill at its meeting 4-28-15.
Pay. Councilman Kennish, would you put this bill on the floor for a vote? Yes, Madam President, I move that council bill 254 series of 2015 be placed upon final consideration and do pass. Thank you. It's been moved and seconded. Comments by members of Council. Councilman Fox. Thank you, Madam President. This is an ordinance that says the city will give business incentives to the Panasonic Enterprise Solution Company in the tune of over $1.3 million. Now, the good news is that it's great that Panasonic is bringing a an entire plant to the northern part of our city. And I'm very excited about that. I think it's very good, but I tend to disapprove of having money taken out of our general fund that taxpayers paid to fix their streets, to pick up their trash, to do the very basic services. Move it over to a fund that then we give money to mega corporations. I mean, we're talking about billions of dollars for Panasonic. And even this particular division of Panasonic is estimated to be earning 15 billion by two by 2020. And so it's not as if we really need to incentivize. They're doing jobs in order to reach that goal. They have to have employees. Right now, they have none here. So they have to have some employees to be able to build large screens that you can see in. Where you have our sport, like the sporting events, where you have the large display screens, that's one of the products they'll be making. They have to have the employees to do that. We don't have to pay them to do that. And so I look upon that as saying taxpayers did not pay money into the general fund to be used as a venture capital fund. I find I find that very inappropriate. And so I am usually the only one on council who feels that way. But I do believe that we do not need to engage in corporate welfare and I will not be voting for it. Thank you. Councilman, for other comments by members of Council. Madam Secretary. Roll call, Auti. Oh, I'm sorry, Councilwoman. Councilman Ortega and Council Bill 254. Thank you. I just think that this one warrants some response. And I believe we have someone here from the Office of Economic Development. If you are here, will you please waive. Unless. Through your chair. We please come to the podium. Jeff, will you talk about the 250 jobs that are being created and what salary range that will that most of those jobs will be at? Just talk a little bit about some of the economic value that we are expected to see with this investment, if you will. So I'm Jeff Rothman with the Office of Economic Development. Thank you, counsel, for allowing me to speak tonight. Members and Council Woman Ortega specifically to your question. There will be, as you already stated, about 250 jobs will be being created within Denver. Primarily, assembly positions are the majority of the positions. The overall average salary for these positions will be over $55,000. They will be related and will we will be working with them with their workforce program the in the end. Again, these are not manufacturing positions, as you already talked about earlier tonight. We're on the proclamation around makers. Nevertheless, this is the assembly of these of this finally, I think, is as part of your question, you talked about the benefits overall to the community. Obviously, this is catalyzed in the 61st and Penn Station. But equally important, it is is it's a global enterprise and it is increasing our global access and our international trade. And then, of course, one of the things that we do, as many of you know, when we do when we consider a business incentive offer or business incentive investment in a firm, we make sure that the fiscal benefit exceeds a 2 to 1 return to the city. So in this particular case, we are receiving well in excess of $2.5 million in total fiscal benefit over the life of this project and beyond. Because we, you know, there's some point where we stop kind of counting, but because of this contract, it's a five year contract. So we'll be receiving that, both a fiscal benefit as well as job creation. And then again, the catalytic nature of 61st. Thank you, Jeff. I have. Okay. Thank you, Councilman Brooks. You know what, Jeff? Just answer the question. And I think it's something that just needs to be underscored, that the investment that we're making has an extreme return on investment from this corporation. And this is this is actually a big deal and something that should be celebrated. So I know that Councilman Fox kind of pooh poohed on this on this incredible opportunity for us to increase our aerotropolis. But this is something that I think the city is weak in, is recruiting Fortune 500 businesses to our city. And so I'm glad that we've got that. And I'm glad that you all use a matrix to see our return on investment. So I appreciate that. Thank you. Thank you, Councilman. Madam Secretary, roll call, please. Forts no can each. I Liman. Lopez Hi, Nevitt. Ortega Hi, Rob Shepherd. SUSSMAN Hi. Brooks Hi. BROWN Hi. Madam President. I. Councilman Brooks. Thank you, Madam Secretary. Please close the voting and announce the results. Lebanese one nay. 11 eyes one nay. Council Bill 254 has passed. Councilwoman Fox, you've called out three. All three. What would you like to do with this? I had understood that 303 was going to be delayed until after the public the public hearing because it's part of a. Mm hmm. Councilwoman Rome. What's up tonight? It's good. I want. I want to speak to her at the time it comes back up. I mean, is there emotion scripted in here that somebody's supposed to be delaying it? Yes. Yes. Page four. Would you like to do that? Sure. Thank you. Why don't we go ahead and do this? There. What we will do is have Councilwoman Sussman. Yes. If you would like to read this into the record and council. Councilman Foster is exactly right, since we're holding a separate public hearing on Council Bill 302 after the recess. We need to postpone the final consideration of companion Bill 303 until after council's action on Council Bill 202. Three. One, two. Three, three. Three. Here, let me, let me, let me, let me do this. Council. Council. Bill 302 and 303. Which are and final considerations. Evening pertain to the ironworks foundry urban development plan and area since we'll be holding a separate public hearing on Council Bill 302. After the recess. I would like to postpone final consideration of companion bill three or three until the council action. 302 Councilwoman Kennish, will you please put the bill on the floor? Yes, Madam President. I move that council bill 303 be placed upon final consideration and do pass. Can I have a second, please? Thank you, Councilwoman Sussman. It has been moved and seconded. Key. Comments by members of council. Need a motion to postpone. Postpone? I'll go ahead. Do you think. I move that final consideration of Council Bill 303 be postponed until after council's action tonight on Council Bill 302. Check to. It's been moved and seconded. Comments by members of Council. Now. Keep up. But. Hello. Councilwoman fights. I see. No, I agree. I very much support postponing it. And then afterwards, we can talk. Okay. Thank you, Madam Secretary. We'll call. Brooks. Hi. Brown I thought I carnage. I Lehman. Lopez Hi. Nevitt. Hi. Ortega Rob Shepherd. Sussman. I've been president. I. Madam Secretary, announce the results, please. 12 eyes. O k 12 eyes. Final consideration of Council Bill three. All three will be postponed until after council's action on Council Bill 302. Okay. We have another bill that's been called out and final consideration. Councilwoman Ortega, what would you like to do with this bill? I would like to put it on the floor for the purpose of a postponement. And I can explain that after it's put on the floor. Councilman Kennish, will you please put 356 on the floor? Yes, Madam President, I move that Councilor Bill 356 be placed upon final consideration and do pass. Second. You okay? It's been moved and seconded. Councilwoman Ortega. We now need a motion to postpone. Madam President, pro tem, I move that council bill 356 vote be postponed until July 30, 2015. Thank you. It's been moved and seconded members. Do you have any other comments?