Resolution 1999-344
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RESOLUTION NO. 99-344
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 $6,000 AS
LOCAL PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY TAX
REFUND PROGRAM FOR FISCAL YEAR(S) 2000 THROUGH 2003,
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the business under consideration is a manufacturer of arthroscopic
medical devices, 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. manufactures arthroscopic medical devices for orthopaedic
surgeons domestically and internationally, with 93% of its sales going outside the state
of Florida; and
WHEREAS, Arthrex, Inc. presently employs 73 employees locally; and
WHEREAS, Arthrex, Inc. will create 10 additional full-time equivalent new jobs in
Collier County; and the average wage for the additional jobs will total 115% 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, 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 5.288.106, 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 $6,000; that this amount will be
encumbered and be available for payment from the FY 2000 Economic Diversity
Program Funds for payment in the following increments: FY 2000 - $1.500; FY 2001-
$1,500; FY 2002 - $1,500; FY 2003 - $1,500; and will be paid to the Florida Economic
.
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Development Trust 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: ~4
ATTEST:
. i .DWIGHT E, BROCK
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,
COLLIER COUNTY BOARD OF
COUNTY COMMISSIONERS
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By:
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Date: F/~
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
Jl,L ) ttr1LJ ,1
H idi F~ Ashton -
Assistant County Attomey
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