§ 2-169. Eligibility for incentives  


Latest version.
  • At a minimum, a target business shall meet the following criteria:

    (1) Unless otherwise provided, no incentive shall be offered or made available to any target business which will not add at least 25 new jobs and have an estimated economic impact of $500,000.00 to the county during the incentive period.

    (2) Additionally, businesses that meet the following eligibility criteria as illustrated below may be considered for incentives during the incentive period:

    Incentives Eligibility Criteria

    Tier Minimum
    New Jobs
    Economic
    Impact
    1 25—74 $500,000.00
    2 75—99 $350,000.00
    3 100 $250,000.00
    4 125+ $125,000.00

     

    (3) A target business shall be required to establish financial solvency such that it can demonstrate an ability to meet the economic impact requirements as set forth in subsection (1) or (2) of this section.

    (4) A target business shall consent to enter into a contractual agreement that outlines incentives offered to the business and a guideline for the recapture or reimbursement should the terms of the contract be violated by the target business.

(Ord. of 8-24-93; Code 1977, § 3-9.8-5; Res. of 10-25-11)