www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. January 8, 2013
REVISED January 8, 2013 Regular Meeting
Agenda Item #7


Subject
Economic Development Incentive Grant, Project Avalanche (R-13-016)

Briefings
None

Contact and/or Presenter Information

Karen Stewart
Economic Development Program Manager
Ext. 6832



Action Requested
Adoption of Resolution R-13-016 finding that "Project Avalanche" is approved for an Economic Development Incentive Grant to be paid over a five year period.

Enabling/Regulating Authority

F.S. 288.106 Tax refund program for qualified target industry business.

Manatee County Economic Development 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 average Manatee County annual wage paid by the company.

Project AVALANCHE will locate a new manufacturing operation in Manatee County.

Project AVALANCHE plans to create 30 jobs over five years paying a minimum of 100% ($35,633) of the Manatee County 2011 average annual wage plus benefits.

Manatee County staff will be responsible for monitoring all EDI Grant requirements, as well as processing the invoice for payment on an annual basis upon confirmation of compliance with wage and annual job creation and retention requirements.

Compliance with the program is managed through the adoption of Resolution R-13-016.

The County’s commitment will require future budget appropriations beginning FY 2013-2014 through FY 2017-2018, if all the employment conditions 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 ($30,000) for this application.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Original to Board Records; copy to Karen Stewart, Neighborhood Services Department.

Cost and Funds Source Account Number and Name
EDI.107.0015806

Amount and Frequency of Recurring Costs
$30,000


Attachment:  Project Avalanche R-13-016.pdf