|March 18, 2014 - Work Session (Morning)|
Agenda Item #1
Jobs Now Initiative
Briefing Provided Upon Request
Contact and/or Presenter Information
Cheri Coryea, Director Neighborhood Services Department
Karen Stewart, Economic Development Division Manager
Review report of statistics on Board of County Commission Economic Development Incentive Program, aka "Jobs Now Initiative" since inception (2009) to present.
2009 Board approved Economic Development Incentive Program
- Through a series of listening meetings and staff research in 2009, the BOCC created an Economic Development Incentive (EDI) Program to promote a "Jobs Now" approach in Manatee County.
- 10 Objectives were adopted to create the basis of the EDI/Jobs Now Program:
- 1: Business Expansion
- 2: Business Relocation
- 3: Business Retention
- 4: Project Acceleration - Infrastructure Improvements
- 5: Incentive and Fee Mitigation Program
- 6: Skilled Workforce 2009-2020
- 7: Business Friendly Environment
- 8: Community Redevelopment Areas
- 9: Sustainable Housing Initiative
- 10: Encouragement Zone Development
- Through the EDI/Jobs Now program the County offers a financial incentive to companies that relocate or expand their business in eligible industry categories, create 5 or more quality jobs at or above the average annual County wage, and/or make a unique capital investment.
- Since the inception of the program, over 75 companies have been awarded an incentive in the program.
- 62 Projects are currently active and 19 Projects are inactive.
- 3,562 potential job incentive awards have been granted through the year 2021.
- 1,032 jobs averaging a $46,664 annual wage have been created through year 2012.
- $ 2,590,773 in incentive funds have been paid for jobs created, with a potential capital return on investment of $460,448,222 through year 2021.
- Staff will be presenting potential concepts for new or modified incentives to enhance redevelopment efforts in the CRA/TIF portion of this worksession.
County Attorney Review
Not Reviewed (No apparent legal issues)
Explanation of Other
Instructions to Board Records
Cost and Funds Source Account Number and Name
TBD annually based on eligible incentive awards
Amount and Frequency of Recurring Costs
Paid annually per agreement terms and eligible activities
Attachment: Economic Development Update-02.25.14.pdf
Attachment: Jobs By Industry-032014.pdf
Attachment: FL Targeted Industries for Incentives02.11.pdf
Attachment: ED Incentives Approved by BOCC As of 02 25 14.pdf
Attachment: Economic Incentive Program-2013.pdf