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LOCAL MOBS GRANT PROGRAM <br />Community Development Director Bob Keating stated that this <br />program would give incentives for business to locate in the county <br />regardless of whether they are occupying an existing building or <br />whether they are building a new building. He then- reviewed a <br />Memorandum of May 7, 1996: <br />TO: -James E. Chandler <br />-County Administrator <br />D IS N HEAD CONCURRENCE <br />Robert M. eat ng, CP <br />Community Developme Dir for <br />FROM: Sasan Rohani, AICP '5')t <br />Chief, <br />5')- <br />Chief, Long -Range Planning Section <br />DATE: May 7, 1996 <br />RE: CONSIDERATION OF ESTABLISHING A LOCAL JOBS GRANT PROGRAM <br />It is requested that the data herein presented be given formal <br />consideration by the Board of County Commissioners at its regular <br />meeting of May 14, 1996. <br />DESCRIPTIONS AND CONDITIONS <br />For many years, the county's unemployment rate has been - <br />considerably higher than that of the state's. In an attempt to <br />diversify its economic base and reduce the unemployment rate, the <br />county is developing a package of economic development incentives <br />in order to attract businesses and industries to the county. Among <br />the economic development incentives being considered is the' <br />establishment of a local jobs grant program. <br />On April 23, 1996, the Economic Development Council recommended <br />that the Board of County Commissioners approve the proposed local <br />jobs grant program. <br />QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM <br />At its September 12, 1995 meeting, the Board of County <br />Commissioners agreed to participate in the state's Qualified Target <br />Industry Tax Refund Program. This program is available to new <br />industries that locate in the county or existing industries in the <br />county that are expanding. To be eligible to receive a tax refund <br />under this program, an industry must be on the state's targeted <br />industries list. By agreeing to participate in the program, the <br />Board committed to pay 20% of the tax refund amount for a <br />qualifying industry. 'For the county, this cost could be up to <br />$1,000 per job. <br />Key elements of the program include: <br />• A business can receive a tax refund of up to $5,000 per new <br />job created. <br />45 <br />May 14, 1996 Boa P,, tt <br />