§ 2-172. Targeted industry incentive program.

(a)

Purpose. The purpose of the targeted industry incentive program is to provide services, assistance and/or incentives to businesses that meet the eligibility requirements below to assist them in relocating their business to the county or expanding their business in the county.

(b)

Eligibility.

(1)

In order to qualify for the targeted industry incentive program a business must be part of one of the following growth clusters or core clusters as determined by North American Industrial Classification System (NAICS)/Standard Industrial Classification codes:

a.

Aerospace and/or advanced equipment manufacturing;

b.

Information technology and/or software;

c.

Professional and business services;

d.

Wholesale trade;

e.

Healthcare services;

f.

Research and development;

g.

Life sciences; and

h.

Travel and tourism.

(2)

Unless otherwise provided, no incentive shall be offered or made available to an eligible business for the targeted industry incentive program unless two of the following criteria are met:

a.

Add at least 25 new jobs;

b.

Pay an average salary at least 1.25 times the county average for that industry as determined by the state department of labor in the employment and wages annual report; or

c.

Have an estimated economic impact requirement of $250,000.00 to the county during the incentive period.

(3)

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

(c)

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

(1)

Plan review fees;

(2)

Business license fees;

(3)

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;

(4)

Building permit fees;

(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 transportation infrastructure; and/or

(8)

Plan review, building permit, and business license fee incentives noted above may be reduced further when at least ten percent of the new and required minimum jobs are filled by county residents living in census tracts with high unemployment rates as determined annually by the state department of labor in the employment and wages annual report.

(d)

A recipient of targeted industry 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.

(Amd. of 2-27-18)