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Scoring the PCP Tactical, LLC Tax Abatement Application <br />According to the tax abatement application submitted by PCP Tactical, LLC and recently completed <br />PAO report, the proposed facility will: <br />• Generate an additional 22 permanent, full -time -jobs by the middle or end of f 2022 <br />— Estimated annual payroll of new full-time jobs: $1,205,000. <br />— Estimated average annual wage of $50,208 (excluding benefits such as health <br />insurance, 401k, and vacation and -sick.time). <br />• Include capital investment in the site consisting of an estimated $810,000* in tangible <br />personal property (e.g. industrial equipment) and $3,000,000* in real property <br />improvements (e.g. site work and buildings). <br />— Estimated total capital investment: $3,810,000*. <br />*Estimates provided by PCP Tactical, LLC. Actual assessment values when completed may- <br />be more or less depending upon market conditions and any potential changes that may be <br />made to the preliminary design. <br />• Meet adopted economic development policies: <br />— As a "Manufacturing" use, the facility qualifies as a Target Industry under <br />Policy 2.5 (see attachment #3). <br />— Proposed locating is within the Indian River County Enterprise Area <br />The positive economic development impacts and benefits of the PCP Tactical, LLC facility are <br />described in a report provided by the Chamber of Commerce (see attachment #6). Those characteristics <br />provide the basis to evaluate and score the tax abatement application in accordance with the scoring <br />guidelines adopted by the BCC (see attachment #4). <br />Under the scoring guidelines, a project scores more points for a higher number of jobs, higher average <br />wages, higher local capital investment, and for having special economic development attributes. For <br />projects that score higher point totals, the guidelines establish higher tax abatement levels and longer <br />tax abatement timeframes (tax years). In this case, staff has scored the PCP Tactical, LLC application <br />as follows` <br />1. Number of new full-time jobs created (22 manufacturing jobs).. <br />2. Level of average annual wages ($50,208/year or 119% of county average).................25 points <br />3. Level of local capital investment ($3,810,000) .................. <br />4. S ecial economic development attributes (meeting Polic 2.5).. ................................................. 20 points <br />Total Application Score <br />20 points <br />83 points <br />Based upon a total score of 83 points, the PCP Tactical, LLC application qualifies for the highest tax <br />abatement scoring category (out of 3 categories). The qualification points for that category are 81 or <br />more points. That category provides for a 10 year tax abatement with the following schedule: <br />FXommunity Development\Users\EDplannrUNCENTNES & FUNDING\Taz AbatementslApplications\Confidential - C\ <br />BCC Item - PCP Tactical ad valorem report v2.d6c BCC Agenda 3 <br />