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proposed jobs meet the minimum annual wage requirements under the Indian River County Local <br />Jobs Grant Program. <br />Due Diligence <br />As part of the process of evaluating the company for participation in the County's Local Jobs Grant <br />Program, County staff and Chamber of Commerce staff conducted research on the company, its <br />officers, and agents. Actions taken as part of this due diligence process included: <br />• Obtaining and evaluating a Dun and Bradstreet credit/financial report for Company; <br />• Conducting a general internet search for Company and its officers using key words such as, <br />but not limited to, "foreclosure", "lawsuit", "crime", "criminal", and "defendant"; <br />• Checking the Florida Department of State Division of Corporations website for corporate <br />registrations and liens; <br />• Searching County official records for tax liens, judgments, and pending litigation; <br />• Using Public Access to Court Electronic Records (PACER) to search for federal civil and <br />federal bankruptcy actions; and <br />• Other searches as needed <br />Staff focused its due diligence research on the main sources of data readily available. Based upon <br />that research and an evaluation by the Chamber's project review committee, Company appears to be <br />financially sound and appears not to have legal problems among its principals and officers that might <br />raise concerns for providing Company with public funds through the Local Jobs Grant Program. <br />Local Jobs Grant Eligibility Review <br />D Industry Classification of Business <br />To qualify for the County's Local Job Grant Program, a company must be one of the county's <br />targeted industries. Under the County's target industry list, Company qualifies for the jobs grant <br />program under the "Manufacturing/Warehouse/Distribution" category. <br />D Job Creation Threshold <br />As structured, the county's jobs grant program provides $3,000 for each new position created that <br />pays from 75% to 99.99% of the County's average annual wage; $5,000 for each new position <br />created that pays from 100% to 149.99% of the County's average annual wage; and $7,000 for each <br />new position created that pays 150% or more of the County's average annual wage. <br />Currently, the County's average annual wage is $36,280. It is anticipated that Company will create <br />13 new jobs in Indian River County, and all of the proposed jobs will meet the, minimum job grant <br />3 <br />69 <br />