Resolution 2002-025
RESOLUTION NO. 02l..L
A RESOLUTION BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA; SUPPORTING ARTHREX, INC. AS A
QUALIFIED APPLICANT PURSUANT TO 5.288.106, FLORIDA
STATUTES; AND PROVIDING AN APPROPRIATION OF $44,800 AS
LOCAL PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY
TAX REFUND PROGRAM FOR FISCAL YEAR(S) 2004 THROUGH 2011,
AND PROVIDING FOR AN EFFECTIVE DATE.
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WHEREAS, the business under consideration is a research and development firm for high
tech medical equipment used in arthroscopic surgical procedures, specifically, Arthrex, Inc.; and
WHEREAS, Arthrex, Inc. is located in Collier County, Florida; and
WHEREAS, Arthrex, Inc. was incorporated in 1984 with its corporate headquarters in
Collier County, Florida; and Arthrex, Inc. is a medical technology industry targeted by the State
of Florida and Collier County for new high-wage job creation; and Arthrex, Inc. is a research and
development firm for high tech medical equipment used in arthroscopic surgical procedures
domestically and internationally, with 84% of its sales going outside the state of Florida; and
WHEREAS, Arthrex, Inc. presently employs 102 employees locaIly; and
WHEREAS, Arthrex, Inc. will create 56 additional fuIl-time equivalent new jobs in
Collier County (18 in Phase I, 38 in Phase II); and the average wage for the additional jobs will
total 150% of the area's average wage; and
WHEREAS, Collier County wiIl support the State of Florida Qualified Target Industry
Tax Refund Program with a 20% local match of tax refund dollars.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that the Board of County
Commissioners hereby recommends Arthrex, Inc. be approved as a Qualified Target Industry
Business pursuant to s.288.106, Florida Statutes, and
BE IT FURTHER RESOLVED that the necessary commitment of local financial
support for the Qualified Target Industry Business for the Qualified Target Industry Tax Refund
Program exists in the amount of up to $44,800; that this amount will be encumbered and be
available for payment from the FY 2004/2005 Economic Diversity Program Funds for payment in
the following increments: FY 2004 - $3,600, FY 2005- $3,600, FY 2006 - $3,600, FY 2007 -
$3,600 for Phase I; FY 2008 - $7,600, FY 2009 - $7,600, FY 2010 - $7,600, FY 2011 - $7,600
for Phase II of the project. Monies are to be paid to the Florida Economic Development Trust
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that these funds are intended to represent the "local participation" required by s.288.1 06, Florida
Statutes.
This Resolution adopted after motion, second and majority vote favoring same.
DATED: I-;}'J.- -0 do-
ATTEST:
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COLLIER COUNTY BOARD OF
COUNTY COMMISSIONERS
4;i~
ames N. Coletta, ChlUrman
By:
Date: 1- a- -;J - D d-
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
t~~
Assistant County Attorney
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