Title
Qualified Target Industry (QTI) Refund Resolution - Arnold-Hanafin Corporation (B)
This item seeks City Commission approval for a Qualified Target Initiative (QTI) contribution for the prospective location of an engineering design center within the City of Gainesville.
Explanation
Arnold-Hanafin, a firm specializing in IT and Engineering staffing and other disciplines in staff augmentation, is considering Gainesville as a location for an engineering design center.
The Qualified Target Industry (QTI) incentive is a tool available to Florida communities to encourage quality job growth in targeted, high value added businesses. Pre-approved applicants creating jobs in Florida receive refunds on the various taxes they pay including corporate income, sales, ad-valorem, insurance premium and certain other taxes.
Eligible QTI applicants must pay an average annual wage that is at least 115 percent of the State Metropolitan Statistical Area (SMSA). In order to participate, the applicant must apply to Enterprise Florida prior to making a decision to locate in Florida. The local community normally provides a resolution from the City or County Commission recommending the applicant for the incentive and provides a match equal to 20% of the total tax refund.
However, in this case, because a final location within the Gainesville area has not been determined at this juncture, a per job incentive amount is being utilized. The attached Resolution indicates City participation only in the event that the firm locates in the City of Gainesville corporate limits.
With respect to Arnold-Hanafin Corporation specifically, the company is expected to create 160 new jobs phased in over three years at an average wage of approximately $57,512 ($27.65) or 200% of the Alachua County average. Jobs are to be cycled in at ten the first year, fifty the second and one hundred the third.
The Gainesville Area Chamber of Commerce, City of Gainesville an...
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