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average annual salary/wage level. <br />A business must submit a jobs grant application to the Community Development Department for <br />review. Upon staff review, all eligible applications are presented to -the Board of County <br />Commissioners for their consideration and approval. <br />When considering the issue of whether or not a business should receive a jobs grant, the Board shall <br />consider the following items: <br />► the anticipated number of employees; <br />► the average wage of employees used to qualify the business; <br />► the type of business; <br />► the environmental impacts; and <br />► the volume of business or production. <br />In addition, special emphasis shall be given to whether or not the business would be likely to relocate <br />or expand in Indian River County without the jobs grant. <br />The amount of the grant awarded to a business is based on the following thresholds: <br />• 20 - 49 new employees <br />• 50 - 99 new employees <br />• 100 -149 new employees <br />• 150 + new employees <br />_ $1,000 per job created <br />_ $1,250 per job created <br />$1,500 per job created <br />$2,000 per job created <br />Provided that the minimum threshold is met, businesses may also be eligible to receive bonuses <br />which will increase the grant amount awarded per job. These bonuses include: <br />► 10% bonus — 50 or more jobs created in the county's target industries <br />► 10% bonus — 75% or more of those hired are Indian River County residents <br />► 10% bonus — The salary of each employee used to qualify the business for the grant <br />is at least 125% of the county's average salary; <br />► 20% bonus — The salary of each employee used to qualify the business for the grant <br />is at least 150% of the county's average salary; <br />► 25% bonus — The salary of each employee used to qualify the business for the grant <br />is at least 175% of the county's average salary; <br />Based on information from the Florida Office of Labor Market Statistics, Indian River County's <br />1998 average annual salary was $24,432. <br />A grant to an individual company may not exceed $500,000. <br />Grant funds awarded to a business may be used for the following activities: <br />moving expenses; <br />permitting costs; <br />► impact fees; <br />infrastructure costs; <br />rent; <br />ocTosEx za, 'NoI 15 PG 6 6 7 <br />