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/aA) INDIAN RIVER COUNTY, FLORIDA MEMORANDUM TO: Jason E. Brown, County Administrator THROUGH: Stan Boling, AICP; Community Development Director THROUGH: Sasan Rohani, AICP; Chief, Long -Range Planning FROM: Bill Schutt, AICP Senior Economic Development Planner, Long Range Planning DATE: April 3, 2017 RE: Consideration of a Request For a Local Jobs Grant by a Target Industry Company (Application #2017-1) It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its meeting of April 11, 2017. DESCRIPTION AND CONDITIONS As part of the County's initiatives to improve the local economic base, a package of economic development incentives designed to attract targeted businesses to the county and to encourage existing businesses to expand their operations within the county was established in 1996. Included in that package of incentives was a local jobs grant program. That program, which was revised by the Board of County Commissioners in October 2000, December 2006, and March 2009, provides a financial incentive to businesses that create good paying, full-time jobs in Indian River County. Recently, a local jobs grant application was submitted by a financial services company wishing to expand its national headquarters within Indian River County. Consistent with state law confidentiality allowances, the applicant has requested that its business name and the specific salaries remain confidential as part of the local jobs grant application and agreement. For reference purposes the applicant is referred to as "Company". Company is currently located within the county and employs a total of 45 people (27 within Indian River County). As of this time, Company has not made a decision on the exact location of the expansion. As proposed, the expansion will bring approximately 15 new jobs to the county. P107