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of job grant associated with that wage category, and the total jobs grant amount: <br />Category <br />Qualified Jobs <br />Amount per Job <br />Total <br />75% of county average wage <br />9 <br />$3,000 <br />$27,000 <br />100% of county average wage <br />1 <br />$5,000 <br />$5,000 <br />150% of county average wage <br />0 <br />$7,000 <br />$0 <br />10% Additional located within <br />the Indian River County / Vero <br />Beach Enterprise Zone <br />$3,200 <br />Sub -Total Grant Amount <br />$35,200 <br />Economic Development Council <br />On March 21, 2023, the Economic Development Council (EDC) met and considered a presentation <br />by County staff concerning Marotech USA, Inc.'s Local Jobs Grant application. At the meeting, <br />the members of the EDC recommended that the Board of County Commissioners approve the <br />Local Jobs Grant application for Marotech USA, Inc. <br />Jobs Grant Agreement <br />If the Board of County Commissioners approves Marotech USA, Inc.'s Local Jobs Grant <br />application, staff will finalize a grant agreement to be executed by the County and Marotech USA, <br />Inc. That agreement will stipulate various requirements, including that: <br />■ The grant will be payable over a three-year period by phase. <br />■ Marotech USA, Inc. will provide copies of its quarterly reemployment compensation <br />reports (RT - 6 forms) to the County so that the County can verify that the number of jobs <br />claimed for each local job grant payment level is being provided. <br />■ Marotech USA, Inc. will supply documentation to the County showing that employees <br />reside within the County or in adjacent counties. <br />In addition, the agreement will also include automatic termination provisions that are dependent <br />upon performance (or lack thereof) by Marotech USA, Inc. Under those provisions, automatic <br />termination will occur either on the date the County has made the last jobs grant payment or upon <br />failure of Marotech USA, Inc. to meet the minimum of 5 jobs hiring deadline. Failure to provide <br />quarterly reports for a period of three years is an additional reason for automatic termination. A <br />draft copy of the grant agreement is included with this report. <br />Funding & Proposed Payment Schedule <br />If approved, the local jobs grant will be funded from County General Fund contingencies taken <br />from four separate County fiscal years starting in County fiscal year 2023-24. The following table <br />indicates the proposed grant funds to be distributed to Marotech USA, Inc. by fiscal year: <br />49 <br />