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<br /> <br />C. EIIRCC <br />CONOMIC MPACT ON NDIAN IVER OUNTY OMMUNITY <br /> <br /> Chuck Yaros <br />, Washington Economics Group, discussed the results of the Firm’s <br />study that had focused on the economic impact of Piper’s current operations in Indian River <br />County. He disclosed that Piper has just fewer than 1,000 employees, which makes it the <br />County’s largest private sector employer. Piper produces a high technology product, which <br />is exported from Indian River County to the rest of the nation and the world. Piper pays an <br />average wage of just under $40,000 annually, which is considerably above both County and <br />State averages. Piper and other economic entities in the County that are dependent on Piper <br />generate about $91 million annually in labor income and the total economic impact is just <br />over a half billion dollars a year. Mr. Yaros remarked that Washington Economic Group’s <br />best estimate is that all of those entities pay approximately $27 million a year in Federal, <br />State, and local taxes. <br /> <br />D. PPCC/CI <br />RESENTATION OF ROPOSED OMBINED ITYOUNTY NCENTIVES <br /> <br />Ms. Casteltine <br /> provided an overview of the proposed combined City and County <br />incentive package as follows: <br /> <br /> <br /> <br />Purchase Piper’s existing property (land and buildings) at fair market value <br />and lease the property back to the company (City and County) <br /> <br /> <br /> <br />Construct additional manufacturing space as needed adjacent to the current <br />facility (City and County) <br /> <br />May 9, 2007 <br /> 4 <br /> <br /> <br />