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DEPARTMENTAL MATTERS <br /> INDIAN RIVER COUNTY <br /> INTER-OFFICE MEMORANDUM <br /> OFFICE OF MANAGEMENT AND BUDGET <br /> TO: Members of the Board of County Commissioners <br /> DATE: January 28, 2013 <br /> SUBJECT: Potential Enterprise Zone ntives—Financial Analysis <br /> FROM: Jason E. Brown <br /> Director, Management & udge <br /> BACKGROUND <br /> On January 8, 2013, County staff made a presentation to the Board of Commis ioners on <br /> possible new incentives in the Enterprise Zone. The staff report identified additional incentives <br /> that would be implemented in the Enterprise Zone. At that meeting, the Board requested <br /> additional information about the estimated financial impacts of each of the eight (8) additional <br /> incentives presented. There was also discussion regarding the implementation of these <br /> incentives on a countywide basis rather than limiting the incentives to the Enterprise Zone. As <br /> discussed during the meeting, it is difficult to estimate the impact of some of the incentives on a <br /> countywide basis. Therefore, the financial analysis is primarily based upon the incentives that <br /> would have been available to some real employers that have applied for and received local jobs <br /> grants within the County in the last few years. Staff has analyzed three (3) such applications. <br /> These are INEOS New Plant BioEnergy LLC (INPB); Communications International Inc. (CII); <br /> and SpectorSoft. <br /> Estimated New Estimated Incentives <br /> Company Name Jobs <br /> INEOS New Planet BioEnergy LLC (INPB) 55 $1,397,885 <br /> SpectorSoft Corporation 34 $208,000 <br /> Communications International Inc. (CII) 12 $68,000 <br /> The eight (8) potential additional incentives considered through this process are: <br /> 1. Subsidize(in whole or in part) County Impact Fees. <br /> 2. Financing of Impact Fees on More Favorable Terms. <br /> 3. Waive or Subsidize (in whole or in part) Development Fees. <br /> 4. Subsidize (in whole or in part) Water and Sewer Connection Charges. <br /> 5. Infrastructure Improvement Program. <br /> 6. Modify the Jobs Grant Program to Increase the Bonus for Jobs Created in the <br /> Enterprise Zone. <br /> 7. Waive or Subsidize the Local Business Tax Receipt for a Limited Period of Time. <br /> 8. Waive (in whole or in part) the Franchise Fee or Fee-in-Lieu-of-Franchise Fee for a <br /> Limited period of Time. <br /> 113 <br />