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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. 16A13 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 16A13 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: DWI~MJ;rRiir~~OCK ,\.l,\\ '.'~.~~ ~ ~:/"::"~'~A .~ <?':;',:":'<~{~:~\ ~/~i!'~;~~D.C . ~'_:, ~ \v;. ., .:'~jf!J j -. J \,.~t ".).':9.,~rtIII'I s " t+aQ!.t:>>!\J.j.l ":,,.. "Zr...H( iI ,.t"; ,.." 'I (I", 11111"'" ~\ 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 hclglqtiresolutionlarthrex