As used in this chapter, the following terms mean:
(a) Eligible Applicant: Any privately-owned business enterprise located within the corporation limits of the City of Defiance that employs personnel on a full-time permanent basis and compensates employees by the payment of wages, salary or other compensation that is subject to municipal taxation under Chapter 181 of the Codified Ordinances.
(b) Eligible Job. An employment position that is reasonably anticipated to be filled 35 or more hours per week and is compensated by:
(1) Payment of hourly wages, exclusive of overtime compensation, at a rate of not less than 175% of the federal minimum wage in effect at the time application is made to participate in the Job Creation Incentive Program;
(2) Payment of an annual salary, exclusive of performance bonuses, overtime compensation or other irregular compensation, equal to or exceeding 175% of the federal minimum wage in effect at the time application is made to participate in the Job Creation Incentive Program multiplied by 2080 employment hours per year;
(3) Payment of sales commission or other performance based compensation reasonably anticipated to generate annual earnings equal to or greater than the minimum salary requirement established by subsection (b)(2) hereof.
(c) Eligible Project: A proposal to establish or expand a privately-owned business enterprise within the corporation limits of the City of Defiance in any manner that is reasonably anticipated to result in the creation of ten or more eligible jobs and payment of aggregate new annual payroll to persons employed in those jobs of $250,000 or more per year.
(Ord. 7000. Passed 11-25-08.)