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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 new good paying, full-time target industry <br />jobs in Indian River County. <br />To qualify for the County's Local Job Grant Program, a company must be one of the county's <br />targeted industries. Over a three (3) year time period, that company must create and maintain at <br />least five (5) net new jobs that are each paid wages equal to or greater than seventy-five percent <br />(75%) of the county's average annual wage. The County's current average annual wage is $39,390, <br />and seventy-five percent (75%) of the County's current average annual wage is $29,542.50. New <br />wage qualifying jobs must be for people that live in the region (Indian River County, Brevard <br />County, St. Lucie County, and Martin County) and do not include pre-existing employees, owners, <br />and the CEO. <br />With respect to the amount of financial incentive, the County's job grant program provides <br />payments per new position created based on the three (3) tier payment system shown on the <br />following chart: <br />Category <br />Amount per Job <br />75% to 99.99% of county average wage <br />$3,000 <br />100% to 149.99% of county average wage <br />$5,000 <br />150% or more of the county average wage <br />$7,000 <br />Grant payments are made over a three (3) year time period by phase for up to three (3) phases <br />(potential of nine (9) separate payments) after county staff verifies actual wages paid. The start of <br />each phase date is based upon proposed employee hire dates and proposed phase commencement <br />dates supplied by the company. <br />The current method of verifying a company's employment and determining the amount of job <br />grant payments is complicated, takes a lot of staff time, and makes it hard to explain to companies <br />how staff arrived at a payment amount. Currently, staff tracks each employee individually. With <br />the hiring, firing, promoting, and replacing of individuals that takes place in companies, it is <br />difficult to track from quarter to quarter each company employee or combination of time served <br />by more than one person that makes up a qualifying year long position. Please see Attachment 1 <br />for a detailed explanation of the current methodology. <br />Based on feedback from companies that have used the jobs grant program, staff has found that <br />companies appreciate the real benefits of the program but find the methodology overly <br />complicated. Staff's own experience with the time -intensive current method, together with <br />feedback from companies and the Chamber of Commerce prompted staff to investigate alternative <br />methodologies. As a result, staff has coordinated with the County Administrator, Commissioner <br />O'Bryan (BCC liaison to the EDC), and the Chamber and has developed and tested a simplified <br />K <br />P155 <br />