The following definitions shall apply to Chapter 181, Job Creation Grant Program:
(a) “Full-time employee” means an individual who is employed for consideration for at least thirty-five (35) hours a week, or who renders any other standard of service generally accepted by custom or specified by contract as full-time employment.
(b) “New employee” means a full-time employee first employed by the owner/business in the project that is the subject of the agreement after the owner/business enters into a Job Creation Grant Agreement with the City under this Chapter or a full-time employee transferred to an existing business consolidating its operation within the City of Bedford Heights after the owner/business enters into a Job Creation Grant Agreement with the City under this Chapter. Shareholders or owners that form the company or business are exempt from being considered as a “new employee.”
(c) “New job” means a job held by a “new employee.”
(d) “New payroll” means the total amount paid as wages to “new employees” not including exercised stock options and bonuses.
(e) “Existing company or business” means a company or business presently residing in the City of Bedford Heights at the time of application and paying employees an hourly wage and/or an annual salary.
(f) “Transferred jobs” are those transferred into Bedford Heights by an existing company or business consolidating its operation within the City of Bedford Heights.
(Ord. 2006-057. Passed 3-21-06.)
(Ord. 2006-057. Passed 3-21-06.)