Columbia Pipeline Group, a pending NiSource Inc. spinoff, has signed a 10-year lease in New Albany, and its’ bringing 60 jobs with it.
Columbia signed the lease with developer Daimler Group Inc. and its partners for a 43,000-sqaure-foot office property titled Water’s Edge III. The office property is located in New Albany International Business Park. The new office will be home to Columbia’s corporate services group, which consists of information technology, finance and supply chain. When the spinoff is complete and the company becomes a separate public company, Columbia will relocate 90 of its current employees and will also be hiring for 60 new positions, stated NiSource spokesperson Mike Banas.
According to New Albany spokesperson Scott McAfee, the city is expecting Columbia to have an annual payroll of $15 million and explained how the company would not be getting more than what is offered to the developer:
“NiSource is not getting any additional incentives over and above the incentives originally provided to the developer.”
McAfee is referring to the 15 year, 100 percent property tax reduction for Daimler Group.
Over the last several months, NiSource has had a great impact on the regional office market. The company’s Columbus Gas distribution division transferred to the Arena District after being located at 200 Civic Center Drive for more than 30 years. The division does still have 35,000 square feet split between two entire floors, but the contract is only short-term. Employees from this location will also be moving to the New Albany location. After the move, NiSource said it will have 800 employees left in Columbus.