discussion agenda item iii.a.1 approval of d&s consultants (dsci) qualified target industry...
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Discussion Agenda Item III.A.1
Approval of D&S Consultants (DSCI) Qualified Target Industry (QTI)
Tax Refund Resolution
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Qualified Target Industry Tax Refund Program
State QTI 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%
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QTI Program 2009
• Digital Risk, LLC – financial services company
• Kept 268 jobs
• 242 new jobs announced
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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
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• 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
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• 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
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• 10 in 2011
• 15 in 2012
• 15 in 2013
• At least twice the prevailing wage
40 new high-wage jobs
• 8 administrative and sales positions
• 32 engineering and production positions
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• 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
QTI Incentives
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Gloria LaQuang
Metro Orlando EDC Project Manager
Joe HelwigSenior Vice PresidentIntelligence, Electronic Warfare, and SensorsDSCI
Thank you…
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Approval of Resolution of the Orange County Board of County Commissioners regarding D&S Consultants, Inc. (DSCI) Qualified Target Industry Tax Refund.
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