www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - December 17, 2013
December 17, 2013 - Regular Meeting
Agenda Item #19


Subject
EDI Grant - Project Navigator - R-13-220

Briefings
None

Contact and/or Presenter Information
Karen Stewart
Economic Development Program Manager
Ext. 6832


Action Requested
Adoption of Resolution R-13-220 finding that Project NAVIGATOR be approved for an Economic Development Incentive Grant.


Enabling/Regulating Authority
F.S. 288.106 Tax refund program for qualified target industry businesses.

Manatee County Government Incentive Program


Background Discussion
On April 21, 2009, the Manatee County Board of County Commissioners adopted the Manatee County Economic Development Incentive Program which provides for Economic Development Incentive (EDI) Grants.

EDI Grants are available to qualifying businesses creating new high-wage job opportunities, either by expanding an existing business or by bringing a new business to Manatee County. The incentive is customized per business based on the number of jobs created and percent above 115% of the average Manatee annual wage.

Project NAVIGATOR plans to locate an aerospace manufacturing facility in Manatee County.

Project NAVIGATOR is scheduled to create 14 quality jobs over five years paying a minimum of 115% of the 2011 Manatee County average annual wage plus benefits.

Manatee County staff will be responsible for monitoring EDI Grant requirements, as well as processing the invoice for payment upon confirmation of compliance with agreement to be executed.

Compliance with the program is managed through the adoption of Resolution R-13-220.     

The County’s commitment will require future budget appropriations beginning FY 2014-2015 through FY 2018-2019, if job creation requirements are met.  We have appropriated monies annually for the last few years to be set aside for economic development incentives such as the state and local EDI program where applicable and will continue to ensure that reserves are set aside for this purpose and carried forward to fund the County’s future obligations ($14,000) for this application.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Original Resolution for Board Records, copy of executed Resolution and approved stamped agenda to Karen Stewart, Neighborhood Services Department (karen.stewart@mymanatee.org)


Cost and Funds Source Account Number and Name
1070015806 EDI $14,000

Amount and Frequency of Recurring Costs
$14,000 over five years


Attachment:  Navigator-R13220.pdf