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INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Joseph A. Baird, County Administrator <br />DEPARTMENT HEAD CONCURRENCE <br />Stan Boling, AlkPI Community Development Director <br />THROUGH: Sasan Rohani, AICP; Chief, Long -Range Planning S <br />FROM: Bill Schutt, AICP; Senior Economic Development Planner, Long -Range Planning IS— <br />DATE:— <br />DATE: May 31, 2016 <br />RE: Consideration of Project Treadstone's Request for a Local Jobs Grant and <br />Qualified Target Industry Resolution <br />It is requested that the information herein presented be given formal consideration by the Board of <br />County Commissioners at its meeting of June 7, 2016. <br />DESCRIPTION AND CONDITIONS <br />As part of the County's initiatives to improve the local economic base, a package of economic <br />development incentives designed to attract targeted businesses to the county and to encourage <br />existing businesses to expand their operations within the county was established in 1996. Included <br />in that package of incentives was a local jobs grant program. That program, which was revised by <br />the Board of County Commissioners (BCC) in October 2000, December 2006, and March 2009, <br />provides a financial incentive to businesses that create good paying, full-time jobs in Indian River <br />County. Recently, a local jobs grant application was submitted by a financial services company <br />wishing to relocate its national headquarters to Indian River County from out of state. <br />Consistent with state law confidentiality allowances, the applicant has requested that its business <br />name and the specific salaries remain confidential as part of the local jobs grant application and <br />agreement. For reference purposes the applicant is referred to as "Project Treadstone". As proposed, <br />Project Treadstone will bring a targeted business (headquarters for a financial services company) <br />with approximately 25 new jobs to the county. <br />87 <br />