The EDGE incentive established by this chapter is an authorization for a new or existing employer who is engaged in a new or expanded eligible business activity that remains qualified for the EDGE incentive after the certification thereof by the Economic Development Director. After certification, the Economic Development Director shall reimburse the business for up to ten annual periods after the commencement date while the qualification continues, up to one-third of the total amount of those occupational license fees withheld by the employer from the gross wages of the employees thereof engaged in the business activity in the city. For businesses with gross annual wages exceeding $20,000,000, the Economic Development Director may provide an enhanced incentive of up to two-thirds of the total amount of those occupational license fees withheld by the employer.
(Ord. 2350, passed 11-2-2010; Ord. 2456, passed 11-7-2017; Ord. 2535, passed 3-1-2022)