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RESOLUTION NO, 2011-058 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER COUNTY, FLORIDA; RECOMMENDING TO <br />ENTERPRISE FLORIDA THAT INEOS NEW PLANET BIOENERGY, <br />LLC's QUALIFIED TARGET INDUSTRY ECONOMIC RECOVERY <br />EXTENSION APPLICATION BE APPROVED PURSUANT TO s.288.106, <br />FLORIDA STATUTES; AND PROVIDING AN APPROPRIATION OF <br />$339000 AS PART OF A LOCAL JOBS GRANT PROGRAM FOR LOCAL <br />PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY TAX <br />REFUND PROGRAM FOR FISCAL YEARS 2012/13, 2013/149 2014/15, <br />2015/165 2016/179 2017/189 AND 2018/19 AND PROVIDING FOR AN <br />EFFECTIVE DATE. <br />WHEREAS, the business under consideration, INEOS New Planet BioEnergy LLC, is a <br />joint venture between INEOS Bio (a division of INEOS), the world's third largest chemical <br />company, and New Planet Energy, a company that focuses on commercialization of new <br />technologies to produce energy and related products from waste products; and <br />WHEREAS, INEOS New Planet BioEnergy LLC is locating a demonstration waste to <br />ethanol conversion plant and regional headquarters in Indian River County at 925 74`h Avenue <br />S.W.; and <br />WHEREAS, INEOS New Planet BioEnergy LLC is an industry targeted by the State of <br />Florida and Indian River County for new high -wage job creation; and <br />WHEREAS, INEOS New Planet BioEnergy LLC is planning to create up to fifty five <br />(55) additional full-time equivalent new jobs in Indian River County and the average wage for <br />the additional jobs will exceed the area's average wage; and <br />WHEREAS, INE <br />OS New Planet BioEnergy LLC prepared an application for a grant <br />under the State of Florida's Qualified Target Industry (QTI) Tax Refund Program, which was <br />approved by the state on June 18, 2010; and <br />WHEREAS, the State of Florida's QTI grant program requires a 20% local government <br />match for a business to qualify for the state's QTI grant; and <br />