Cash Economic Stimulus Incentive Program

Section 1 - Program Introduction

The Cash Economic Stimulus Incentive Program hereby establishes the parameters the Osceola County Board of County Commissioners hereinafter "Board", shall use to offer incentives for selected targeted industries that locate a new or expand an existing business in Osceola County, and create new permanent full-time, jobs. The creation of new permanent full-time, high-wage, value-added jobs is the goal of this incentive.

Section 2 - Goal of the Program

The goal of the CESIP is to create new permanent full-time, high-wage, value-added jobs in Osceola County.

Section 3 - Business Qualifications for Cash Economic Stimulus Incentive

1. To participate in the program, a business shall pay at least 200% of the Osceola County average wage, and meet the targeted industry criteria listed in Attachment A; and
2. Create ten 10 new permanent full-time jobs or increase the workforce by ten 10% percent of existing permanent full-time; and
3. Lowest paid employee must earn an hourly wage of at least $2 above the current Federal minimum wage rate; and
4. Provide a benefit package, which includes health insurance; and
5. The selected business must demonstrate a diligent effort to hire local Osceola County residents for the new permanent full-time, positions; and
6. The selected business must demonstrate that at least twenty-five 25% percent of gross receipts or final sales resulting from this project will be made outside of Florida; and
7. The selected business must demonstrate an effort to locate in or build a facility that meets the United States Green Building Council USGBC LEED-CS guidelines, or the Florida Building Green Coalition standards, or the Green Building Initiative Standard.

Section 4 - Incentive Parameters

1. The Board may offer up to $3,000 for each new permanent full-time, job created.
2. The Board may offer an additional incentive of up to $1,000 for each new permanent full-time, job created within the Kissimmee/Osceola County Enterprise Zone.
3. If the qualified company is approved for the Qualified Target Industry program, the incentive is capped at $1,500 per new job created.
4. The Board may pay the business the total agreed upon incentives, within 30 days after an agreement is executed.
5. The maximum payment to a business is Five Hundred Thousand Dollars $500,000, unless otherwise authorized by the Board.
6. The Board will make the final decision to approve or deny the incentive application.

Section 5 - Job Preservation

Companies participating in the Cash Economic Stimulus Incentive Program must maintain the qualifying jobs for a minimum of five 5 years in the County, and ten 10 years in the Enterprise Zone. Companies must annually report to the Economic Development Department and validate to the Board that the jobs are still in place. If a company does not maintain the jobs for the specified length of time, the program funding must be reimbursed to Osceola County.

Section 6 - Agreement

In the event the incentive application is approved, the business entity shall enter into an agreement with the Board that will specify the terms and conditions.

Selected Targeted Industries

Manufacturing Facilities

• Food & Beverage Products
• Chemicals
  • Ethanol & Biodiesel Fuel Manufacturing
  • Pharmaceutical Manufacturing
• Plastics & Rubber Products
• Metal & Non-Metallic Mineral Products
  • Ultra High Purity Silicon Manufacturing
• Machinery
  • Electronic flight Simulator Manufacturing
  • Optical Instruments Manufacturing
  • Turbine and Turbine Generator Manufacturing
• Electrical Equipment
• Computer & Electronic Products
  • Electronic Flight Simulator Manufacturing
  • Laser & Optoelectronics Manufacturing
  • Photovoltaic & Hydrogen Fuel Cells
• Transportation Equipment
  • Aircraft Maintenance, Repair & Overhaul
• Miscellaneous
  • Surgical & Medical Instrument Manufacturing

Professional, Scientific &Technical Services

• Professional, Scientific & Technical
  • Research and Development
  • Simulation Training
  • Testing Laboratories

Corporate Headquarters

• Corporate, Subsidiary & Regional Managing Offices

Information Industries

• Film, Video, Sound Recording & Electronic Media
  • Production Excluding temporary "on location" filming
  • Postproduction Services