|May 7, 2013 - Regular Meeting|
Agenda Item #21
EDI Grant - Project AMBER - Resolution R-13-083
Contact and/or Presenter Information
Karen Stewart, Manager
Economic Development Division
Adoption of Resolution R-13-083 finding that Project AMBER be approved for an Economic Development Incentive Grant for a five-year period.
F.S. 288.106 Tax refund program for qualified target industry businesses
Manatee County Government Incentive Program
- 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 the average Manatee County annual wage.
- Project AMBER plans to expand a manufacturing operation in Manatee County creating 30 new jobs over a five-year period paying above average annual wages plus benefits.
- Manatee County staff will be responsible for monitoring all EDI grant requirements, as well as processing invoices 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-13-083.
- The County's commitment will require future budget appropriations beginning FY2013-2014 through 2017-2018, if all employment conditions are met. We have annually appropriated monies 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
Instructions to Board Records
Original Resolution for Board Records; copy of stamped approved Agenda Memorandum and executed Resolution to Karen Stewart (firstname.lastname@example.org), Neighborhood Services Department.
Cost and Funds Source Account Number and Name
$30,000 EDI 1070015806
Amount and Frequency of Recurring Costs
Over a 5 year period
Attachment: Project Amber R-13-083.pdf