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Comprehensive Plan Economic Development Element <br />With the Enterprise Zene, indian River- Geunty and the City ef Ver -e Beaeh have the ability te effel: <br />state spe er-e- .--.ives to leeal eempaHies. These ineentives are anether tee! that the County and <br />City ef Vef:e Beaeh haN,e at theif: dispesal te help fetain and expand existing businesses and help te <br />attraet ne-,A, businesses. Between Oeteber- 1, 2005 (staA ef repef4ing pef:ied fef the beginning ef the <br />> 2007, <br />10 BuildingMater-ial Sales Tax Refidnd applieatiens and 25 Business Equipment Sales Tax Refund applieatienswer-e submitted te the state. The ameunt of meney im.-ested in Building Mater-ials alld Business <br />$29,936.00 in Building Material Sales Tax Refunds weFe requested for- bus -messes investiff" <br />33,248.00 in Business Equipment Sales Tax Refunds weFe requested fer atetal -nves+---' <br />$615,474.00 in Bus-ness <br />. <br />Florida's Research Coast Economic Development Coalition <br />Inmate -99&'x1998, a Memorandum of Understanding (MOU) was signed by the primary <br />economic development organizations EDOs in Martin, St. Lucie, Okeechobee and Indian River <br />Counties to coordinate economic development efforts as a region <br />That <br />â–ºdeaMOU set the foundation for <br />C unt-y-these primary EDOs and the President/CEO of CareerSource Research Coast to form the <br />"Florida Research Coast Economic Development Coalition" to better promote the economic <br />development objectives of the three four counties. <br />Currently, the Business Development Board of Martin County, the Indian River County Chamber of <br />Commerce, the Economic Development Council of St. Lucie County the Okeechobee Chamber of <br />Commerce, and CareerSource Research Coast are sharing resources to <br />promote/edyet4ise the thfeefour counties as a cohesive region. The research coast initiative is <br />building upon recent efforts of all theefour counties and CareerSource <br />Research Coast -to recruit companies involved with the Life Science Industries along with other <br />targeted industries. ,se-er-al life seie . -!s have already leeated te St. bueie County. <br />One ef these life seien . ; is Ter -fey Pines institute fer- Meleeular- Studies, a Galifemia <br />based biefeeh eempany. Reeently, TefFey Pines fifleved inte a 100,000 square feet life seienees <br />, <br />Or-egen Health and Seieenee UniyeHit-)"S Vaeeine and Gene Therapy institute (VGT-1) FHeyed into <br />temperaf:y f6eilities within the Ter-f:ey Pines institute fef MeleetilaNStudies, while VGT-I is building <br />its faeilily- Finally, the Mann ReseaFeh GenteF iS leeating on a 22 aefe site within the Town e <br />Tradition. i <br />Community Development Department Indian River County 30 <br />167 <br />