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a. "Adjacent Counties" means Brevard, Osceola, St. Lucie, Okeechobee, and Martin <br />Counties. <br />b. "Annual Wage" - includes salary, bonuses, and commissions. <br />c. "Default" - failure to comply with the terms of this Agreement. <br />d. "Expanding Business" — shall be defined as a business expanding its operation <br />over and above its base employment amount at the time of jobs grant approval by <br />5 or more new jobs to employ 5 or more new full-time employees in the COUNTY <br />within the term of the Grant. <br />e. "Full-time Equivalent Job" - shall be defined as a position that is scheduled for at <br />least 35 hours per week. <br />f. "Indian River County Average Annual Wage" — shall be defined as the average <br />annual wage per job in COUNTY as determined by Florida Agency for Workforce <br />Innovation, Labor Market Statistics Center, Quarterly Census of Employment and <br />Wages Program, in cooperation with the U.S. Department of Labor, Bureau of <br />Labor Statistics. Currently, the COUNTY's average annual wage is $37,882 <br />(effective January 1" 2016 for the state QTI Tax Refund Program). This dollar <br />value shall be used for the duration of this Agreement for determining local jobs <br />grant incentives. <br />g. "New Business" — shall be defined as a business establishing 5 or more new jobs to <br />employ 5 or more new full-time employees in the COUNTY within the term of the <br />Grant (as such term is hereinafter defined), provided that such business first begins <br />operations on a site in the COUNTY clearly separate from any other operation <br />owned by the same business. <br />h. Commencement Date" — the date that the COUNTY begins tracking qualifying <br />jobs for potential local jobs grant payments. Such date shall start on one of the <br />following dates: January I", April I", July I", or October Is' of a year agreed to by <br />COUNTY as established within this Agreement or as otherwise modified in <br />accordance with this Agreement. <br />i. "Qualifying job" — a full-time equivalent job having an annual wage equal to or <br />greater than 75% of Indian River County's Average Annual Wage. <br />"Quarterly Reemployment Compensation Report (RT -6 form)" — Form from the <br />Florida Department of Revenue that businesses in the state of Florida must <br />complete and submit to the state on a quarterly basis. Information collected on the <br />form includes the names of employees, their social security numbers, and the gross <br />-2- <br />95 <br />