§ 2-169. Entrepreneurship and innovation incentive program.

(a)

Purpose. The purpose of the entrepreneurship and innovation incentive program is to provide services, assistance, and/or incentives to entrepreneurs and innovators who are in high skilled fields to assist them in the growing their business, creating jobs, and maintaining their presence in the county.

(b)

Eligibility.

(1)

In order to qualify for the entrepreneurship and innovation incentive program a business must meet the following criteria:

a.

Must have participated in the IgniteHQ business incubator program; participated in a program operated by an affiliate or partner of IgniteHQ; be a spin-off technology associated with the Georgia Tech Research Institute or other university; or have graduated from an entrepreneurial training program;

b.

Must be an existing business in the county; and

c.

The applicant must agree to remain in the county for the three years after the expiration of the mandatory incentives agreement.

(c)

Incentives. Companies eligible for entrepreneurship and innovation incentive program may be eligible for a reduction of some or all of the following:

(1)

Ability to apply for cash grants from the Cobb Innovation Fund;

(2)

A 50 percent reduction of the business license fee for two years; and/or

(3)

Assistance with permitting and construction processes.

(d)

A recipient of entrepreneurship and innovation incentives shall consent to enter into a contractual agreement that outlines the incentives received by the business and a guideline for the recapture or reimbursement of the value of the incentives should the terms of the contract be violated by the business.

(Ord. of 8-24-93; Code 1977, § 3-9.8-5; Res. of 10-25-11; Amd. of 7-22-14; Amd. of 2-24-15; Amd. of 2-27-18)