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/aAl <br />INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Jason E. Brown, County Administrator <br />THROUGH: Phillip J. Matson, AICP; Community Development Director <br />FROM: John Stoll; Chief, Long Range Planning <br />DATE: November 15, 2022 <br />RE: Consideration of Kessel Medical, Ines Request for a Local Jobs Grant <br />It is requested that the information herein presented be given formal consideration by the Board of <br />County Commissioners at its meeting of November 22, 2022. <br />DESCRIPTION AND CONDITIONS <br />As part of the County's initiatives to improve the local economic base, a package of economic <br />development incentives designed to attract targeted businesses to the county and to encourage <br />existing businesses to expand their operations within the county was established in 1996. Included <br />in that package of incentives was a local job grant program. That program, which was revised by the <br />Board of County Commissioners in October 2000, December 2006, and March 2009, provides a <br />financial incentive to businesses that create good paying, full-time jobs in Indian River County. <br />Kessel Medical, Inc has applied for a local job grant for its business which will manufacture small <br />medical devices. As proposed, Kessel Medical, Inc will bring a targeted business with approximately <br />twenty (20) new jobs to the county. <br />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 ($46,289 current average annual wage). Currently, seventy-five percent of the County's <br />average annual wage is $34,716.75, and twenty (20) of the proposed twenty (20) jobs meet the <br />minimum wage requirements for the job grant application. Based upon proposed wages and jobs, <br />Kessel Medical, Inc. is eligible to receive up to a $106,000 jobs grant. <br />77 <br />