Agenda 02/24/2015 Item #16F4 2/24/2015 16.F.4.
EXECUTIVE SUMMARY
Recommendation to adopt a resolution approving the Prospect #15-011, as a Qualified
Applicant to Florida's Qualified Target Industries (QTI) Tax Refund Program, providing
up to $32,000 of local financial support for an expansion of an existing business
management firm in Collier County that will create 40 new quality jobs and approve
necessary budget amendment.
OBJECTIVE: That the Board of County Commissioners (Board) approves Partnership for
Collier's Future Economy's Prospect #15-011 as a qualified applicant pursuant to section
288.106, Florida Statutes; and identifying sources of local financial support of$32,000 as local
participation in the qualified target industry tax refund program for fiscal year(s)2015-2023.
CONSIDERATIONS:, A business prospect of the Partnership for Collier's Future Economy
(#15-011) proposes to expand an existing business management firm in Collier County, creating
40 new quality jobs with average wages of at least 150% of the Naples-Marco Island MSA's
private sector average wage,which is equivalent to approximately$63,738. This prospect is also
expected to generate up to $2.2 million in capital investment. This prospect has alternative sites
available and has made receipt of tax refunds a condition for further consideration of locating
such expansion at a Collier County site.
In order to collect the annual tax refunds, the prospect must create the number of new jobs
contracted with the Florida Department of Economic Opportunity (DEO), and provide wages
averaging at least 150% of the MSA average wage for each year of the agreement. The state
program requires that the local community provide 20% of the total tax refunds. This local
match is paid to the state, not the applicant. If the case that Prospect #15-011, fulfills the
contractual obligations for quality job creation, the County would pay 100% of the local match
for this application which would be up to $800 per job or$32,000 total spread over at least four
years. The maximum cost to the County for this applicant creating new jobs within Collier
County is$32,000 spread over four years or more.
FISCAL IMPACT: Economic incentives are funded in the General Fund (001). The
maximum cost to the County for this QTI applicant is $32,000 spread over a minimum of four
years. This tax refund incentive is anticipated to begin in FY 2015. Funding for this
application is available in the FY 2015 Economic Incentive budget. Subject to annual
appropriations, the balance of the annual tax refund incentive will be included in the proposed
FY 2016 and future General Fund(001)budgets.
GROWTH MANAGEMENT IMPACT:None.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, is
approved as to form and legality,and requires majority vote for approval. -JAK
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2/24/2015 16.F.4.
RECOMMENDATION: Adopt a resolution approving the Partnership for Collier's Future
Economy's Prospect #15-011, as a Qualified Applicant to Florida's Qualified Target Industries
(QTI) Tax Refund Program, providing up to $32,000 of local financial support for an expansion
of an existing high value added manufacturing firm in Collier County that will create 40 new
quality jobs and approve necessary budget amendment.
Prepared by: Bruce Register,Director, Office of Business&Economic Development
Attachments: QTI Resolution: Project#15-011
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2/24/2015 16.F.4.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.F.16.F.4.
Item Summary: Recommendation to adopt a resolution approving the Prospect#15-011,
as a Qualified Applicant to Florida's Qualified Target Industries (QTI)Tax Refund Program,
providing up to $32,000 of local financial support for an expansion of an existing business
management firm in Collier County that will create 40 new quality jobs and approve necessary
budget amendment.
Meeting Date: 2/24/2015
Prepared By
Approved By
Name: KlatzkowJeff
Title: County Attorney,
Date: 2/13/2015 2:16:00 PM
Name: FinnEd
Title: Management/Budget Analyst, Senior,Transportation Engineering&Construction Management
Date: 2/17/2015 6:42:47 PM
Name: OchsLeo
Title: County Manager, County Managers Office
Date: 2/18/2015 8:59:30 AM
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2/24/2015 16.F.4.
RESOLUTION NO.2015 -
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA, FINDING THAT THE PARTNERSHIP
FOR COLLIER'S FUTURE ECONOMY'S ECONOMIC DEVELOPMENT
PROSPECT #15-011, BE APPROVED AS A QUALIFIED APPLICANT
PURSUANT TO SECTION 288.106, FLORIDA STATUTES; AND
IDENTIFYING SOURCES OF LOCAL FINANCIAL SUPPORT OF
$32,000 AS LOCAL PARTICIPATION IN THE QUALIFIED TARGET
INDUSTRY TAX REFUND PROGRAM FOR FISCAL YEAR(S) 2015-2023.
WHEREAS, the Legislature of the State of Florida has enacted Chapter 94-136, Laws of
Florida, creating Section 288.106, Florida Statutes, to encourage the growth of Florida's high-
value-added employment; and
WHEREAS, Section 288.106, Florida Statutes, authorizes the Florida Department of
Economic Opportunity to accept, review and approve applications for tax refunds to qualified
target industry businesses; and
WHEREAS, Section 288.106, Florida Statutes, requires 20% local financial participation
as tax refunds become due; and
WHEREAS, the Company identified as the Partnership for Collier's Future Economy's
Prospect #15-011, wishes to expand a Collier County operation consisting of 40 new qualifying
value-added jobs in five phases; and
WHEREAS, the Company identified as the Partnership for Collier's Future Economy's
Prospect #15-011, will provide high-wage, value-added employment to Collier County citizens
with average wages of at least $63,738 or 150% of the Naples-Marco Island MSA's private
sector average wage; and
WHEREAS, the Board of County Commissioners finds that providing tax refunds and
other tax incentives to the Partnership for Collier's Future Economy's Prospect #15-011 is vital
to the public purpose of employing Collier County citizens and ensuring the County's economic
vitality.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OP COLLIER COUNTY, FLORIDA that the Board hereby recommends
that the Partnership for Collier's Future Economy's Prospect #15-011, be approved as a
Qualified Target Industry Business pursuant to Section 288.106, Florida Statutes. This
recommendation is based upon the creation of the specified jobs and is contingent upon Collier
County's review of Partnership for Collier's Future Economy's Prospect #15-011's final
application to be a Qualified Target Industries Business and confirmation of the information
therein.
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2/24/2015 16.F.4.
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
has been identified in the amount of $32,000; consisting of 100% of the local contribution
coming from Collier County subject to annual appropriations; and will be paid to the Florida
Economic Development Trust Fund as tax refunds become due with the stipulation that these
funds are intended to represent the local financial support required by Section 288.106, Florida
Statutes and are conditional upon the applicant meeting all requirements of the program and
Collier County. If the site of the Qualified Target Industry Business changes to or becomes part
of a Tax Increment District in a municipality within Collier County, the County will reduce its
contribution to 10% of the local match.
THIS RESOLUTION ADOPTED after motion, second, and majority vote favoring same
this day of , 2015.
ATTEST: BOARD OF COUNTY COMMISSIONERS
DWIGHT E. BROCK, Clerk COLLIER COUNTY, FLORIDA
By: By:
, Deputy Clerk TIM NANCE, CHAIRMAN
App •v-, .i. to form and legality:
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