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12 .x . 1 . <br /> JOBS GRANT AGREEMENT BETWEEN INDIAN RIVER COUNTY l3 O7 <br /> AND <br /> TRITON SUBMARINES, LLC <br /> THIS INDIAN RIVER COUNTY JOBS GRANT AGREEMENT ("Agreement") is made <br /> as of the 2nd day of April, 2013 (the "Effective Date") by and between Indian River County, a <br /> political subdivision of the State of Florida, by and through its Board of Commissioners, hereinafter <br /> referred to as COUNTY, and Triton Submarines, LLC , a company authorized to do business in the <br /> State of Florida, hereinafter referred to as COMPANY . <br /> BACKGROUND RECITALS : <br /> WHEREAS, it is the policy of COUNTY to stimulate economic growth in Indian River <br /> County by either attracting new businesses to Indian River County or by encouraging the expansion <br /> of existing businesses within Indian River County; and <br /> WHEREAS, the creation of new employment opportunities for residents of Indian River <br /> County and the increased tax revenues resulting from such business expansions or relocations within <br /> Indian River County is beneficial to the local economy; and <br /> WHEREAS, COUNTY has determined that offering a Jobs Grant Program encourages <br /> businesses to expand within or new businesses to locate in Indian River County and thereby creates <br /> new employment opportunities for the residents of Indian River County; and <br /> WHEREAS, Indian River County, through its Board of County Commissioners, has created <br /> a local Jobs Grant Program; and <br /> WHEREAS, COMPANY currently has 14 full time employees employed within Indian <br /> River County, and <br /> WHEREAS, COMPANY, in accordance with the county' s Jobs Grant Program criteria, will <br /> expand its business in Indian River County to create 24 additional full time jobs, which pay at least <br /> 75 % of Indian River County ' s average annual wage level ; and <br /> WHEREAS, COMPANY has been determined to be eligible to receive a Jobs Grant; and <br /> WHEREAS, COMPANY acknowledges that this Agreement shall be based upon <br /> compliance with County jobs grant program requirements , and, <br /> WHEREAS, COUNTY finds and declares that it is in the public interest to award a Jobs <br /> Grant to COMPANY pursuant to the terms of this Agreement. <br /> - 1 - <br />