Indian-based engineering firm Axiscades, Inc. has been declared in default by the Columbus City Council for failing to meet its commitments under a 2020 agreement. The company was required to establish its North American headquarters in Columbus and fulfill specific job creation and retention targets. However, Axiscades fell short of these obligations, leading the council to unanimously pass a resolution demanding the return of $50,000 in economic development funds.

The council's decision followed a thorough review of Axiscades' performance over the past few years. Despite receiving financial incentives from the city, the company failed to maintain a physical presence in Columbus or meet employment benchmarks. In 2020, Axiscades initially met the job creation goals but subsequently saw a significant decline in employee numbers. By March 2024, the company had only 1.9 full-time equivalent positions, far below the agreed-upon target of 10 employees. Additionally, Axiscades no longer operated at its designated location on Brown Street and did not have an active business license in Indiana.

Moving forward, the city will take steps to recover the $50,000 provided to Axiscades. While some council members expressed willingness to grant an extension for the company to improve its performance, others argued that sufficient time and opportunities had already been given. The council emphasized the importance of accountability and fair treatment for all businesses, highlighting that small local enterprises facing similar issues were not granted extensions. This decision underscores the city's commitment to upholding agreements and supporting responsible business practices, ensuring that economic incentives are used effectively to benefit the community.