|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - October 22, 2013|
Agenda Item #21
Economic Development Incentive Grant - Project Maple - R-13-190
Contact and/or Presenter Information
Karen Stewart, Economic Development Program Manager
Adoption of Resolution R-13-190 finding that Project MAPLE be approved for an Economic Development Incentive Grant and providing an effective date.
F.S. 288.106 Tax refund program for qualified target industry businesses
Manatee County's Economic Development 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 115% of the average Manatee annual wage.
Project MAPLE has located a new headquarters and manufacturing facility in Manatee County.
Project MAPLE is scheduled to create 235 jobs over five years paying a minimum of 200% of the 2011 Manatee County average annual wage plus benefits.
Project MAPLE has currently exceeded the projected schedule of job creation by year.
A customized incentive in the amount of $30,000 will allow the company to make improvements to the utilities infrastructure on the site which benefit the company and Manatee County Utilities. The scope of work will be outlined in an agreement with the business and will be constructed to County standards and approved by the Public Works and Utilities Departments. Payment will be made after work is completed and permits for said construction are closed. This customized incentive reflects the the intention of the parties at the time incentives were developed for this business and is being brought forward at this time as the costs and process have now been determined.
Manatee County staff will be responsible for monitoring Customized EDI Grant requirements, as well as processing the invoice for payment upon completion of construction and upon confirmation of compliance with agreement to be executed.
Compliance with the program is managed through the adoption of Resolution R-13-190.
The County’s commitment will require future budget appropriations in FY 2013-2014, if construction 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 ($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 107.0015806
Amount and Frequency of Recurring Costs