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RESOLUTION NO. 2016- 0n6 <br />A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER <br />COUNTY, FLORIDA, RECOGNIZING THE SUNSETTING OF THE FLORIDA ENTERPRISE <br />ZONE ACT AND THE DESIRE OF THE COUNTY TO CONTINUE TO RECOGNIZE THE <br />ENTERPRISE ZONE AREA AS AN AREA ELIGIBLE FOR LOCAL JOBS GRANT BONUS <br />INCENTIVE. <br />WHEREAS, since 2005, Indian River County and the City of Vero Beach have operated a joint <br />Enterprise Zone that includes the Gifford Community along with surrounding areas, and including <br />the Vero Beach Municipal Airport (See Exhibit A), and <br />WHEREAS, a primary purpose of the Enterprise Zone program is to encourage economic growth <br />and investment in distressed areas through use of state tax incentives for businesses investing in <br />those areas and through local incentives adopted by communities, and <br />WHEREAS, since designation, numerous businesses located within the County/City of Vero <br />Beach Enterprise Zone have applied for and received state business equipment sales tax refunds and <br />state building material sales tax refunds, and <br />WHEREAS, as part of its local incentives, Indian River County currently provides a 10% bonus <br />for its local jobs grant program for qualifying businesses located within the County/City of Vero <br />Beach Enterprise Zone, and <br />WHEREAS, two companies with approved local jobs grants (Girard Equipment and PCP <br />Ammunition) are currently located within the Enterprise Zone and per their agreements with the <br />County are eligible for the 10% Enterprise Zone bonus payment for as long as those agreements <br />remain valid, and <br />WHEREAS, on December 31, 2015, the Florida Enterprise Zone Program authorizing legislation <br />expired, and <br />