Title
Qualified Target Industry (QTI) Refund Resolution - Registerpatient.com, Inc. (B)
This item seeks City Commission approval for a QTI contribution for the prospective relocation of information technology jobs associated with Registerpatinet.com, Inc. a health services and information technology firm, within the City of Gainesville.
Explanation
Registerpatient.com Inc., a health services and information technology firm, is currently considering the creation of up to 32 net new information technology jobs (the firm currently has 5 employees) within the City limits. If the firm chooses to select Gainesville/Alachua County for this particular project, site location will take place within the City’s Enterprise Zone in the vicinity of SE 2nd Avenue and SE 2nd Street.
The QTI incentive is a state tool available to Florida communities to encourage 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, sales, ad-valorem, insurance premium and other taxes. The QTI incentive is performance based and the firm will only receive funds based upon jobs created and meeting other criteria as required by Florida statute.
Eligible QTI applicants must pay an average annual wage that is at least 115% of the State Metropolitan Statistical Area's average annual wage rate. In order to apply, the applicant works with Enterprise Florida prior to making a decision to locate (or expand). The local community normally provides a Resolution to indicate that the commitments of local financial support exist, namely up to 20% of the total tax refund.
In this particular case, Registerpatient.com Inc. is indicating that it will create up to 32 net new jobs at an average wage of approximately $45,000 at the proposed location. This firm has pledged a capital investment of approximately $514,000 over five years regarding the relocation in addition to the proposed job creatio...
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