§ 15-230. Definitions

For the purposes of this article, the following terms have the corresponding definitions ascribed to them:

Average annual wage means the average of all wages and salaries in Broward County.

Business means an employing unit, as defined in F.S. § 443.036, which is registered with the Florida Department of Labor and Employment Security for unemployment compensation purposes; or a subcategory or division of an employing unit which is accepted by the Department of Labor and Employment Security as a reporting unit.

City means the City of Fort Lauderdale, Florida.

City commission means the City Commission of the City of Fort Lauderdale, Florida.

Corporate headquarters business means an international, national, or regional headquarters office of a multinational or multistate business enterprise or national trade association, whether separate from or connected with other facilities used by such business.

Direct cash means incentive dollars offered or paid by city to attract business relocation or expansion.

Director means the director of the sustainable development department.

Enterprise zone means an area designated as an enterprise zone pursuant to F.S. § 290.0065.

Expansion of an existing business means the expansion of a business by or through additions to real and personal property on a site co-located with a commercial or industrial operation owned by the same business, resulting in a net increase in employment of not less than ten (10) percent at such business.

Fiscal year means the fiscal year of the City of Fort Lauderdale.

Jobs means full-time equivalent positions, as such terms are consistent with terms used by the Florida Department of Labor and Employment Security and the United States Department of Labor for purposes of unemployment compensation tax administration and employment estimation, resulting directly from a project in this state. This number shall not include temporary construction jobs involved with the construction of facilities for the project or any jobs which have previously been included in any application for tax refunds under this article or F.S. § 288.106.

Local financial support or local match means funding from local sources, public or private, which is paid to the economic development trust fund and which is equal to twenty (20) percent of the annual tax refund for a qualified target industry business, or funding from local sources as may be required under the state program. A qualified target industry business may not provide, directly or indirectly, more than five (5) percent of such funding in any fiscal year. The sources of such funding may not include, directly or indirectly, state funds appropriated from the general revenue fund or any state trust fund, excluding tax revenues shared with local governments pursuant to law.

New business means a business which heretofore did not exist in the City of Fort Lauderdale, first beginning operations on a site located in this state and clearly separate from any other commercial or industrial operation owned by the same business.

Project means the creation of a new business or expansion of an existing business.

Qualified target industry business means a target industry business that has been approved by the city, or the Florida Office of Tourism, Trade, and Economic Development, to be eligible for tax refunds pursuant to this article.

Target industry business means a corporate headquarters business or any business that is engaged in one (1) of the target industries identified pursuant to the target industry criteria defined in this section.

Target industry criteria includes:

(1)

Future growth. Industry forecasts should indicate strong expectation for future growth in both employment and output, according to the most recent available data. Special consideration should be given to Florida's growing access to international markets or to replacing imports.

(2)

Stability. The industry should not be subject to periodic layoffs, either due to seasonality or sensitivity to volatile economic variables such as weather. The industry should also be relatively resistant to recession, so that the demand for products of this industry is not necessarily subject to decline during an economic downturn.

(3)

High wage. The industry should pay relatively high wages compared to statewide area averages.

(4)

Market and resource independent. The location of industry business should not be dependent on Florida markets or resources as indicated by industry analysis.

(5)

Industrial base diversification and strengthening. The industry should contribute toward expanding or diversifying the state's or area's economic base, as indicated by an analysis of employment and output shares compared to national and regional trends. Special consideration should be given to industries that strengthen regional economies by adding value to basic products or building regional industrial clusters as indicated by industry analysis.

(6)

Economic benefits. The industry should have strong positive impacts on or benefits to the county, state, and regional economies.

( Ord. No. C-07-42, § 1, 6-5-07 ; Ord. No. C-09-17, § 1, 6-16-09 ; Ord. No. C-17-28 , § 81, 9-13-17)