The Columbus-Franklin County Finance Authority has issued $24 million in tax-exempt financing to the Online Computer Library Center, Inc.(OCLC) as it continues to invest in its technology infrastructure to serve libraries globally from its Central Ohio headquarters. OCLC plans to lease equipment from PNC Equipment Leasing and make building improvements to house the equipment. OCLC’s investment will facilitate the creation and retention of 30 jobs. The Finance Authority also assisted OCLC in 2009 and 2008, with the issuance of $30 million and $20 million in tax-exempt financing, respectively.
“We have partnered with the Finance Authority on three financings and hope to work with them on future financings as we continue to connect the world’s libraries and provide further access to the world’s information," said Rick J. Schwieterman, Executive Vice President and CFO.
Founded in 1967, OCLC is a non-profit, membership, computer library service and research organization dedicated to the public purpose of furthering access to the world’s information and reducing library costs. More than 75,000 libraries from 170 countries use OCLC services to locate, acquire, catalog, lend, preserve, and manage library materials. Researchers, students, faculty, scholars, professional librarians and other information seekers use OCLC services to obtain bibliographic, abstract, and full-text information when and where they need it. OCLC and its member libraries cooperatively produce and maintain WorldCat, the world’s largest resource for cataloging and finding items held in libraries.
The Columbus-Franklin County Finance Authority has issued $402 million in financing closing on 29 projects that will invest over $551 million and create over 1,950 jobs in Central Ohio.
The Finance Authority gratefully acknowledges support received from the Franklin County Board of Commissioners and the City of Columbus.
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