Northwest Bank proposed to relocate operations to Dublin under $460,000 incentive cap

Luke Fleming presented an incentive package proposed for Northwest Bank, saying the bank intends to relocate the majority of its operations to Dublin after a nationwide search. The proposal includes a 5‑year 15% performance incentive on withholdings collected on net new employees capped at $460,000 and a one‑time $50,000 grant payable upon proof of a 15‑year lease and occupancy permit; staff said the move would bring 120 employees initially with a target of 300 by 2034.

Staff recommended the ordinance be considered for adoption on Aug. 24; council members praised the economic‑development team for their work. No public comment was offered on the item tonight.