Resolution 2002-024
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RESOLUTION NO. 02 ..2A...
A RESOLUTION BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA; SUPPORTING ARTHREX METAL
WORKS, INC. AS A QUALIFIED APPLICANT PURSUANT TO s.288.106,
FLORIDA STATUTES; AND PROVIDING AN APPROPRIATION OF
$48,000 AS LOCAL PARTICIPATION IN THE QUALIFIED TARGET
INDUSTRY TAX REFUND PROGRAM FOR FISCAL YEAR(S) 2003
THROUGH 2006, AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the business under consideration is a manufacturer of high tech medical
equipment for arthroscopic surgical procedures, specifically, Arthrex Metal Works, Inc.; and
WHEREAS, Arthrex Metal Works, Inc. is located in Collier County, Florida; and
WHEREAS, Arthrex Metal Works, Inc. was incorporated in 2001 with its corporate
headquarters in Collier County, Florida; and Arthrex Metal Works, Inc. is a medical technology
industry targeted by the State of Florida and Collier County for new high-wage job creation; and
Arthrex Metal Works, Inc. manufactures high tech medical equipment for arthroscopic surgical
procedures, with 83.7% of its sales going outside the state of Florida; and
WHEREAS, Arthrex Metal Works, Inc. is a new wholly owned subsidiary of Arthrex,
Inc., manufacturing the devices designed and engineered by Arthrex, Inc.
WHEREAS, Arthrex Metal Works, Inc. will create 80 full-time equivalent new jobs in
Collier County; and the average wage for the additional jobs will total 11 5% of the area's average
wage; and
WHEREAS, Collier County will support the State of Florida Qualified Target Industry
Tax Refund Program with a 20% local match of tax refund dollars.
NOW, mEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that the Board of County
Commissioners hereby recommends Arthrex Metal Works, 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 $48,000; that this amount will be encumbered and be
available for payment from the FY 2003/04 Economic Diversity Program Funds for payment in
the following increments: FY 2003 - $12,000; FY 2004 - $12,000; FY 2005 - $12,000; FY 2006 -
$12,000; and will be paid to the Florida Economic Development Trust Fund with the stipulation
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Fund with the stipulation that these funds are intended to represent the "local participation"
required by s.288.106, Florida Statutes.
This Resolution adopted after motion, second and majority vote favoring same.
DATED: 1- a..;;.. Od-
ATTEST:
DWaHli'.6"~:ItOCK
COLLIER COUNTY BOARD OF
COUNTY COMMISSIONERS
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James N. Coletta, Chairman
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By:
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Date: J - :it d.. - 0 d-
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
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Patrick . White
Assistant County Attorney