182.03 ELIGIBLE PROJECTS.
   (a)   A business or company that commits to the creation of at least ten new full-time and/or full-time equivalent jobs and/or at least two hundred thousand dollars ($200,000) in new annual payroll in the Village of Hicksville may be eligible for the Job Creation Tax Credit Program. This provision shall apply to businesses and companies that are new to the Village of Hicksville as well as current businesses and companies that are expanding within the Village of Hicksville. Government entities are not eligible to participate in this program.
   (b)   Each participant will commit to establish within three years, a minimum of ten new jobs and/or at least two hundred thousand dollars ($200,000) in new annual payroll in the Village of Hicksville, Ohio. For purposes of this program, the term "New jobs" does not include transfers from affiliated companies already located within the Village of Hicksville. Each participant must commit to retaining the existing number of jobs and levels of payroll at the time of the application. The Job Creation Tax Credit does not apply to wage and salary increases of existing jobs.
   (c)   Each participant who is eligible may concurrently apply for state tax credit pursuant to a job creation agreement with the State of Ohio as authorized by R.C. § 122.17.
   (d)   Each participant shall document that receiving the Village Income Tax Credit is a major factor in the applicant's decision to go forward with the project within the Village.
   (e)   The average wage of "New jobs" created shall be at least 175.00 percent of the Federal Minimum Wage.
   (f)   The participant shall further comply with all other applicable provisions of the ordinances of the Village of Hicksville.
(Ord. 2008-09. Passed 11-17-08; Ord. 2014-04. Passed 3-17-14; Ord. 2019-05. Passed 5-20-19.)