Sandy Springs Approves Veritiv Corporation Incentive Package

A new company slated to move into Sandy Springs will have one less thing to worry about as part of their plans to open new corporate offices.

The Sandy Springs City Council on Tuesday unanimously approved a request from Veritiv Corporation to waive building permit and business occupational tax — commonly known as business license — fees for its relocation to Northpark 400.

Veritiv’s capital investment into the build-out of the space is estimated at $4.2 million, making it eligible to receive the city’s Tier II incentive package. That level calls for companies to make investments ranging from $1 million to $5 million, bringing between 26 and 99 jobs at or above the average wave level for Sandy Springs — $66,092 — and a minimum of a seven-year lease commitment.

The Tier II incentive will grant Veritiv a total of $166,450 in fees that will be waived for the company’s move.

Broken down, the building fee waiver amounts to $16,450 and the request to waive business license fees comes out at $75,000 for both 2015 and 2016.

Veritiv in December announced plans to move into 68,000 square feet space owned by Cousins Properties at Northpark Town Center. The new offices will be home to roughly 125 to 150 of Veritiv’s senior leadership and corporate support functions.

According to its website, Veritiv was established in 2014 following a merger of International Paper Company’s xpedx division and Unisource Worldwide, Inc. The Atlanta-based Fortune 500 Company employs about 9,500 employees across more than 170 distribution centers in the United States, Mexico and Canada.

Council members also were treated to a check presentation from Sandy Springs Conservancy to the city to match funds provided by the Department of Natural Resources, which would be used in building a walking trail at Lost Corner Preserve.

City leaders also approved a contract with Tople Construction to perform the Powers Ferry Road sidewalk project in the amount of $443,140.85. The approval is pending approval by the city attorney and Finance Department.

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