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3. INTRODUCTION OF INDIAN RIVER COUNTY BOARD OF <br />COUNTY COMMISSIONERS AND STAFF BY CHAIRMAN <br />GARY C. WHEELER <br />Chairman Wheeler introduced County Commissioners and staff Other County staff <br />present were Assistant County Administrator Mike Zito and Budget Director Jason Brown. <br />4. ITEMS FOR DISCUSSION: <br />A. FINANCIAL OFFER TO PIPER <br />County Budget Director Jason Brown, through a PowerPoint presentation, gave a brief <br />history of Piper Aircraft, noting that they are the largest private sector employer in Indian River <br />County, and according to the economic study done by the Washington Economic Group, Piper's <br />total economic impact is about $518 million per year. The Report also showed that based on the <br />economic activity attributed to Piper, they pay about $4 million in local taxes. <br />Director Brown reminded the Panel of its prior decision when they voted 10-0 on May 9, <br />2007, to move forward with developing an incentive package offer to Piper. However, the tax <br />reform proposed by Tallahassee has impacted City and County revenue sources. He then <br />presented the Tax Reform Summary in which the Legislature currently requires Counties to make <br />a 5% cut and Cities a 7% cut from current year revenues to meet roll back requirements. He <br />explained that such cuts would limit the revenues available for Piper's incentives package, because <br />what we pay would impact both General Funds. <br />June 21, 2007 2 <br />Joint Meeting/City of Vero Beach re Piper Aircraft <br />