1 / 10

Discussion Agenda Item III.A.1

Discussion Agenda Item III.A.1. Approval of D&S Consultants (DSCI) Qualified Target Industry (QTI) Tax Refund Resolution. State QTI Program. Qualified Target Industry Tax Refund Program. Created 1994 Section 288.106 Florida Statutes

lali
Download Presentation

Discussion Agenda Item III.A.1

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Discussion Agenda Item III.A.1 Approval of D&S Consultants (DSCI) Qualified Target Industry (QTI) Tax Refund Resolution

  2. State QTI Program Qualified Target Industry Tax Refund Program • Created 1994 Section 288.106 Florida Statutes • Goal: Encourage growth of high-skill, high-wage jobs in target industries • Tax refunds for each job created • Tax refunds paid over time only after jobs are created, maintained, and taxes paid • State provides 80% of the payments • Orange County pays 20%

  3. QTI Program 2009 • Digital Risk, LLC – financial services company • Kept 268 jobs • 242 new jobs announced

  4. QTI Program 2010 • 9 QTIs • Existing Jobs = 1,733 • New jobs announced = 867 • Fidelity Information Systems – financial services • Pelliconi & C SPA – manufacturing • Wheeled Coach Industries – manufacturing • Innovative Medical Device Solutions (IMDS) – medical device development and manufacturing • 3 QTIs - SAIC – engineering/technology company • Saab Training – modeling & simulation • CAE USA – modeling & simulation

  5. Employee-owned engineering, simulation, and training company • Headquartered in Eatontown, New Jersey • 600 employees worldwide – New Jersey, Maryland, Alabama, Ohio, California, Texas, Florida, Washington DC, Italy, Germany • 31 existing employees in Central FL Research Park

  6. Decision time: Consolidate and grow in Orange County or elsewhere — New Jersey, Maryland, Washington DC. • 31 existing high-wage jobs are at stake • 40 new high-wage jobs • 12 high-wage part-time jobs — high-tech engineering and specialized technician jobs

  7. 40 new high-wage jobs • 10 in 2011 • 15 in 2012 • 15 in 2013 • At least twice the prevailing wage • 8 administrative and sales positions • 32 engineering and production positions

  8. QTI Incentives • Eligible for $5,000 per job • 40 jobs X $5,000 = $200,000 total QTI • State share = 80% = $160,000 • Orange County share = 20% = $40,000 • Paid over 6 years after jobs are both created and maintained • First Orange County QTI payment = $2,500 in FY 2012-2013

  9. Thank you… Gloria LaQuang Metro Orlando EDC Project Manager Joe Helwig Senior Vice President Intelligence, Electronic Warfare, and Sensors DSCI

  10. Actions Requested Approval of Resolution of the Orange County Board of County Commissioners regarding D&S Consultants, Inc. (DSCI) Qualified Target Industry Tax Refund.

More Related