www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - November 7, 2017
REVISED November 7, 2017 - Regular Meeting
Agenda Item #51


Subject
Project Skyway Southwest District Economic Development Incentive

Briefings
None

Contact and/or Presenter Information
Karen Stewart
County Economic Development Official
Ext. 6832


Action Requested
Adoption of Resolution R-17-130 finding that Project Skyway is approved for a customized Southwest District Economic Development Incentive Grant.



Enabling/Regulating Authority
F.S. 288.106 Tax refund program for qualified target industry businesses.
F.S. 288.075 Confidentiality for economic development projects
Manatee County Government Incentive Grant



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. In addition, the Board held a work session on October 17, 2017, and conceptually approved the expansion of the EDI program to include Southwest District (SWD) industry targets.

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 of the company.

The County has received a written request from the business for confidentiality regarding its intentions, plans, and interests to locate, relocate, or expand any of its business activities in this State, pursuant to Section 288.075 Florida Statutes.

Project SKYWAY will locate a Medical Office facility in the Southwest District in Manatee County.

Project SKYWAY is projected to create 50 quality jobs over five years, with the company paying a minimum of 200% of the 2015 Manatee County average annual wage plus benefits ($76,984).

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

Compliance with the EDI program is managed through the adoption of Resolution R-17-130.     

The County will require future budget appropriations beginning FY 2018-2019 through FY 2022-2023, if job creation requirements are met.  We have appropriated monies annually for the last few years to be set aside for economic development incentives for the 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‚Äôs future obligations ($150,000) 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 agenda to Karen Stewart, Redevelopment and Economic Opportunities Department (karen.stewart@mymanatee.org)

Cost and Funds Source Account Number and Name
SWTIF - 823.0020603 $150,000

Amount and Frequency of Recurring Costs
Over a five year period


Attachment:  Skyway R-17-130.pdf