§ 1-7-64. Definitions.

As applied in this article, the following words and terms shall have the following meanings:

Applicant shall mean a business enterprise that has submitted or that intends to submit an application to the county to participate in the EDI program.

Application shall mean a form prescribed by the Director of the Charlotte County Economic Development Office that must be completed and properly executed in order for an applicant to be considered for participation in the EDI program.

Board shall mean the Board of County Commissioners of Charlotte County, Florida or its duly authorized designee.

Capital incentive(s) shall mean incentive(s) provided to participants for the development or acquisition of specified values of capital improvements.

Capital improvement(s) shall mean land improvements or personal property, or both.

Charlotte County Average Annual Wage or CCAAW shall mean the Charlotte County Average Annual Wage as established by the State of Florida Incentives Average Wage Requirements as published and updated annually by Enterprise Florida using ES202 Program data from the United States Department of Labor and the State of Florida Agency for Workforce Innovation.

County shall mean Charlotte County, Florida, a geographical area and a political subdivision of the State of Florida.

Derived impact shall mean the sum of the anticipated impact on county funds based on the cost of providing essential public services to the applicant or participant and the projected return over a ten-year period.

Direct return shall mean the expected general fund revenues collected from the applicant or participant based on current tax and fee assumptions projected annually and cumulatively over a ten-year period.

EDI program shall mean the program established by the Charlotte County Economic Development Incentive Code.

Enterprise Florida shall mean Enterprise Florida, Inc., a Florida non-profit corporation authorized by the Florida Legislature pursuant to F.S. section 288.901.

Employment incentive(s) shall mean incentive(s) provided to participants for the creation of specified levels of quality jobs.

Export sales shall mean the total sales of products or services by the applicant to purchasers located outside the boundaries of the county.

Governmental fees shall mean permitting, development, utility connection, impact and any similar fees owed to the county in connection with the development, installation or construction of capital improvements.

Economic Impact Analysis Model shall mean the Charlotte County Economic Development Office, Economic Impact Analysis Model, developed in 2008 by Impact DataSource, Austin, TX.

Incentive(s) shall mean economic or financial assistance, in the form of set-offs, direct compensation, or available land, provided to participants pursuant to the terms of this article. Incentives can be either capital incentives or employment incentives.

Land improvements shall mean improvements to real property, improvements to existing land improvements, or fixtures that are taxed pursuant to Title XIV, Florida Statutes, or both.

Local jobs shall mean jobs created in Charlotte County for full-time or full-time equivalent employees of an applicant or participant.

Participant shall mean an applicant who is approved by the county for participation in the EDI program.

Personal property shall mean "tangible personal property" as defined in F.S. section 192.001(11)(d) and taxed pursuant to Title XIV, Florida Statutes.

Program agreement shall mean an agreement between the county and the participant, which sets forth the rights and duties of the parties relative to the participant's participation in the EDI program. In no instance shall the term of the program agreement exceed ten (10) years.

Quality jobs means local jobs in a targeted industry provided by an applicant or participant that provide an average wage that equal or exceeds the wage levels set forth in subsections 1-7-65(g)(i), (ii) or (iii).

Regionally significant shall mean a project which creates one hundred (100) or more quality jobs, or fifty (50) or more quality jobs, with a minimum investment of one million dollars ($1,000,000.00) in capital improvements.

Return on investment shall mean the direct return to county revenues plus the derived impact as derived by the impact analysis model, the total of which shall be subtracted by the total incentive award by the county.

Set-offs shall mean incentives in the form of economic credits granted a participant by the county towards governmental fees or taxes.

Specialized capital intensive industry shall mean an industry that, in order to establish or expand operations within the county, requires a capital investment of at least twenty-five million dollars ($25,000,000.00) to improve land or install tangible personal property, resulting in a significant increase in the local tax base, but does not typically establish many new jobs. such industries may include, but are not limited to, data (cloud) centers, ocean wave power generators, or solar farms.

Targeted industries shall mean those identified by the Enterprise Florida and the Governor's Office of Tourism, Trade, and Economic Development at the time of application or identified by resolution of the board.

(Ord. No. 2010-051, § 1, 8-10-10; Ord. No. 2010-074, § 1, 12-14-10; Ord. No. 2015-001, § 1, 1-27-15)