§ 2-171. Business retention incentives program.

(a)

Purpose. The purpose of the business retention incentives program is to provide services, assistance, and/or incentives to businesses that meet specific eligibility requirements listed in section 2-171(b) to assist in keeping their business in the county under specified conditions in order maintain jobs and tax base.

(b)

Eligibility.

(1)

In order to qualify for the business retention incentive program a business must meet the following criteria:

a.

Be an existing business that has been in continuous operations in the county for at least two years;

b.

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

c.

Be part of one of the following business clusters as determined by North American Industrial Classification System (NAICS):

1.

Information technology and/or software;

2.

Professional and business services;

3.

Wholesale trade;

4.

Healthcare services;

5.

Research and development;

6.

Life sciences; or

7.

Travel and tourism; and

d.

Be a business with at least 50 employees.

(2)

The business retention incentive program is not eligible to companies that meet any of the following criteria:

a.

Are currently receiving incentives from the county, the Development Authority of Cobb County, or the South Cobb Redevelopment Authority;

b.

Are not up to date on local or state taxes;

c.

To subsidize or artificially sustain businesses and industries when job losses or closing appear inevitable.

(3)

In no event shall any incentive result in payment of county funds as part of the business retention incentive program.

(4)

If the business moves out of the county prior to the expiration of the incentives agreement or within a three-year period after the expiration of the agreement, all incentives provided to the business are to be paid back to the county.

(c)

Incentives. Companies eligible for business retention incentive program may be eligible for a reduction of some or all of the following:

(1)

Access to market data, labor force data, and real estate data;

(2)

Coordination with appropriate county, city, or state agencies;

(3)

Liaison with workforce training and assistance providers;

(4)

Water systems incentives such as: water rates, flexible payment of sewer development fees, and reduction of sewer development fees, as reviewed by the water systems and approved by the county manager;

(5)

Workforce Innovation and Opportunity Act of 2014 funds as amended from time to time;

(6)

Inducements or grants authorized by the Development Authority of Cobb County or South Cobb Redevelopment Authority;

(7)

Assistance with permitting and construction processes; and/or

(8)

Assistance with transportation infrastructure.

(d)

A recipient of business retention incentives shall consent to enter into a contractual agreement that outlines 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.

(Res. of 10-25-11; Amd. of 7-22-14; Amd. of 2-24-15; Amd. of 2-23-16; Amd. of 2-28-17; Amd. of 2-27-18)