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RESOLUTION NO. 2010 -024 <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 BE APPROVED AS A QUALIFIED TARGET INDUSTRY <br />PURSUANT TO s.288.106, FLORIDA STATUTES; AND PROVIDING AN <br />APPROPRIATION OF $60,500 AS PART OF A LOCAL JOBS GRANT <br />PROGRAM FOR LOCAL PARTICIPATION IN THE QUALIFIED <br />TARGET INDUSTRY TAX REFUND PROGRAM FOR FISCAL YEARS <br />2011/12, 2012/13, 2013/14, 2014/15, 2015/16, AND 2016/17, AND <br />PROVIDING FOR AN 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 considering locating a demonstration <br />waste to ethanol conversion plant and regional headquarters in Indian River County at 925 74th <br />Avenue 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, INEOS New Planet BioEnergy LLC has prepared an application for a grant <br />under the State of Florida's Qualified Target Industry (QTI) Tax Refund Program; 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 />1 of 4 <br />