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County Administrator's Report 14. 13.

BCC Regular Meeting

Technical/Public Service Consent

Meeting Date:	06/10/2013
Issue: Resolution Establishing Intent of Support for "Project Pearl"
From:	Larry Newsom
Department:	County Administrator's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Economic Development Incentives for "Project Pearl" - George Touart, Interim County Administrator

That the Board take the following action concerning Economic Development Incentives for "Project Pearl," an economic development prospect:

A. Adopt a Resolution approving "Project Pearl" as a Qualified Target Industry Business, eligible to apply for the State's Qualified Target Industry Tax Refund Program; and

B. Authorize the Chairman to execute the Resolution.

[Funds are available in Fund 102, Economic Development Fund, Cost Center 360704, Account 58201, Aids to Private Organizations]

BACKGROUND:

Project Pearl is an existing manufacturing operation in Escambia County, Florida, that is considering Escambia County as the location for an expansion of its operations. This prospective business expansion will include a capital investment of approximately $7.7 million dollars.

This prospective business expansion will create 15 additional full-time jobs at an average annual salary of $73,502, which is approximately 200% of Escambia County’s average annual private sector wage ($36,751) as reported by the State of Florida Department of Economic Opportunity for 2011.

BUDGETARY IMPACT:

[Funds are available in Fund #102, Economic Development Fund, Cost Center 360704, Account 58201, Aids to Private Organizations]

LEGAL CONSIDERATIONS/SIGN-OFF:

The Resolution was reviewed by the County Attorney's Office for form and legal sufficiency.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Project Pearl Resolution