(A) It is the policy of the town not to offer financial incentives for economic development projects that involve the relocation of a business from another state jurisdiction to the town.
(B) The town’s decision to offer financial incentives to relocate an economic development project from another state jurisdiction to the town will be based on the following:
(1) A letter or other written documentation from the jurisdiction where the business is currently located that it has exhausted all resources available to keep the business in such jurisdiction;
(2) The business has exhausted its efforts to reach an agreement with the jurisdiction in which it is located; and
(3) The business has provided the town with a written financial incentive package from another state to relocate to another state and such relocation of said business would be detrimental to the Indianapolis Metropolitan Region and state in terms of the lost of capital investment and/or jobs.
(Ord. 5-97, passed 3-24-1997)