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6AI INDIAN RIVER COUNTY, FLORIDA MEMORANDUM TO: Jason E. Brown, County Administrator THROUGH: Phillip J. Matson, AICP; Community Development Director FROM: Bill Schutt, AICP; Chief, Long -Range Planning DATE: March 17, 2021 RE: Consideration of Diamond Drinks of Florida, Inc's Request for a Local Jobs Grant It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its Special Call Meeting of March 30, 2021. 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, Diamond Drinks of Florida, Inc. applied for a local jobs grant for its business which will have a lemon orchard, will manufacture plastic bottles, and will mix/fill fruit flavored juices in the plastic bottles. As proposed, Diamond Drinks of Florida, Inc. will bring a targeted business (bottled water manufacturing) with approximately 50 new jobs to the county. To be eligible for the County's Local Job Grant Program, an applicant must create at least 5 new jobs, and those jobs must pay wages equal to or greater than 75% of the county's average annual wage ($43,178 current average annual wage). Currently, seventy-five percent of the County's average annual wage is $32,383.50. Fifty of the proposed fifty jobs meet the minimum wage requirements for the j ob grant application. Based upon proposed wages and jobs, Diamond Drinks of Florida, Inc. is eligible to receive up to a $150,000 jobs grant. On March 16, 2021, the Economic Development Council (EDC) reviewed the local jobs grant application. Although a quorum was not present (11 present out of 23), the consensus of the EDC 45