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To be eligible for the County's Local Job Grant Program, an applicant must create at least 5 new <br />jobs, and those jobs must pay wages equal to or greater than 75% of the county's average annual <br />wage ($39,390 current average annual wage). Currently, seventy-five percent of the County's <br />average annual wage is $29,542.50. All fifteen of the proposed jobs meet the minimum wage <br />requirements for the job grant application. Based upon proposed wages and jobs, Company is <br />eligible to receive up to a $49,000 jobs grant. <br />On March 28, 2017, the Economic Development Council (EDC) reviewed the local jobs grant <br />application. At that meeting, the EDC voted to recommend that the Board of County <br />Commissioners (BCC) approve the proposed jobs grant of up to $49,000 (see attachment 3). <br />The BCC must now consider approving the proposed jobs grant of up to $49,000. <br />ANALYSIS <br />Company <br />Company is planning to expand its national headquarters within Indian River County and create <br />15 new jobs at a yet to be determined location within Indian River County. All fifteen proposed <br />jobs exceed the minimum annual wage requirements under the Indian River County Local Jobs <br />Grant Program. <br />Due Diligence <br />As part of the process of evaluating a local jobs grant applicant for participation in the County's <br />Local Jobs Grant Program, County staff and Chamber of Commerce staff conduct research on the <br />company, its officers, and its agents. <br />As part of the due diligence process, actions taken include: <br />• Obtaining and evaluating a Dun and Bradstreet credit/financial report for applicant <br />company; <br />• Conducting a general internet search for applicant company and its officers using key <br />words such as but not limited to "foreclosure" "lawsuit" "crime" "criminal" and <br />"defendant"; <br />• Checking the Florida Department of State Division of Corporations website for corporate <br />registrations and liens; <br />• Searching County official records for tax liens, judgments, and pending litigation; <br />• Using Public Access to Court Electronic Records (PACER) to search for federal civil and <br />federal bankruptcy actions; and <br />• Other searches as needed <br />2 <br />P108 <br />