The Defiance County Community Improvement Corporation shall grant eligible applicants Job Creation Incentive Program assistance funded by the City of Defiance. The amount of the grant and term of years over which it is to be paid shall be based on the number of eligible jobs to be created as a result of the eligible project for which the grant is awarded and aggregate new annual payroll to become payable to persons employed in those jobs as provided in this section.
(a) The maximum number of years over which a grant may be paid shall be dependent on the number of eligible jobs to be created by the eligible project:
Number of Eligible Jobs Created | Maximum Term of Grant |
10-49 |
10 years |
50-99 |
12 years |
100 or more |
15 years |
(b) The amount of Job Creation Incentive Program assistance that may be paid during each year of the term for which assistance is granted shall be dependent on the aggregate new annual payroll to be paid to persons employed in the eligible jobs expected to be created by the eligible project:
Aggregate New Annual Payroll | Allowance Annual Incentive |
$250,000 to $499,000 | $750 to $2,500 |
$500,000 to $2,499,999 | $1,500 to $13,000 |
$2,500,000 to $3,999,999 | $9,400 to $30,000 |
$4,000,000 and above | $25,000 to $60,000 |
(Ord. 7000. Passed 11-25-08; Ord. 8079. Passed 11-27-18.)