Resolution 2003-041
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RESOLUTION NO. 03-.!!
A RESOLUTION BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA; SUPPORTING MARCH
PERFORMANCE, INC. AS A QUALIFIED APPLICANT PURSUANT TO
5.288.106, FLORIDA STATUTES; AND PROVIDING AN
APPROPRIATION OF $32,000 AS LOCAL PARTICIPATION IN THE
QUALIFIED TARGET INDUSTRY (QTI) TAX REFUND PROGRAM FOR
FISCAL YEAR(S) 2004 THROUGH 2007, AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the business under consideration is a manufacturer and designer of
components for high performance automobiles, specifically, March Performance; and
WHEREAS, March Performance currently has its operations and corporate headquarters
in Michigan but is considering a move to Collier County, Florida; and
WHEREAS, it is the policy of the State of Florida and Collier County to encourage the
growth of high value-added employment and the economic base by providing tax refunds to
qualified targeted industries that create high-wage job opportunities, and
WHEREAS, the State requires the applicant requesting certification as a qualified
targeted industry business to provide, among other things, a resolution adopted by the Board of
County Commissioners in which the proposed project is to be located, recommending that the
target business be approved as a qualified target industry and that the commitment of local
financial support necessary for the target business industry exists; and
WHEREAS, this incentive will provide an inducement for March Performance to locate
in Collier County; and
WHEREAS, March Performance will create up to 40 net new jobs in Collier County by
March, 2004; and the average wage for the additional jobs will total $54,570.00, which is 185%
of the Collier County's 2000 average wage; and
WHEREAS, Enterprise Florida has confirmed with the Governor's Office of Tourism
Trade and Economic Development (OTTED) about the Qualified Targeted Industry (QTI) Tax
Refund Program and they agreed the project is eligible for QTI tax refunds up to $160,000
(including local match).
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that the Board of County
Commissioners hereby recommends March Performance be approved as a Qualified Target
Industry Business pursuant to 5.288.106, Florida Statutes, and
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BE IT FURTHER RESOLVED that the County has reviewed the public or private
resources for local financial support and determined that the County can provide the necessary
commitment of local financial support for March Performance as a Qualified Targeted Industry
Business. The QTI Tax Refund Program has funding available for March Performance in the
amount of up to $32,000; that this amount will therefore be so encumbered, and there be made
available for payment from future revenues generated from the projected ad valorem taxes
collected as a result of this project. Payment is proposed to be made in the following increments:
FY 2004/05 - $8,000, FY 2005/06 - $8,000, FY 2006/07 - $8,000, FY 2007/08 - $8,000. Monies
are to be paid to the Florida Economic Development Trust Fund with the stipulation that these
funds are intended to represent the "local participation" required by s.288.106, Florida Statutes.
The necessary commitment of local financial support shall be contingent on March
Performance maintaining the jobs during the life of the incentive and ensuring that its hiring
practices are consistent with and reflect the diversity of the Collier County community.
This Resolution adopted after motion, second and majority vote favoring same.
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COLLIER COUNTY BOARD OF
COUNTY COMMISSIONERS
man
Date: 1- Z. ~ ~ 0 :5
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
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Patrick G. White
Assistant County Attorney