For the purposes of this section as used in this chapter the following words shall have the meanings as described to them in this section unless the context clearly indicates or requires a different meaning.
(a) “Net new jobs” means a full time employee first employed by a business after the business enters into the Job Creation Incentive Program and does not include an employee if, immediately prior to being employed by the business, the employee was employed by another business that is a related member or predecessor business of that business. Net new job does not include an employee who was previously employed by the business within the last two (2) calendar years and rehired. Temporary or leased employees are not eligible to be included when calculating net new jobs.
(b) “Full time employee” means an individual, eighteen (18) years of age or older, who is employed for an average of forty (40) hours per week or such employee who is employed at least thirty five (35) hours per week and receives additional work related benefits such as health care and/or pension plan of which the majority of the cost is paid by the employer.
(c) "Business" means any for profit business, incorporated or otherwise engaged in any legal activity for the purpose of generating revenue that will have a positive impact on the City's tax base.
(d) "Net Benefit" means the end result of the activities of any business which has a positive impact on the City's tax base.
(e) Any “incentive” described in this Chapter will be based on any business profit tax or employee withholding tax, excluding any temporary income tax in effect or those designated for a specific purpose.
(f) “Municipal Treasurer” means the elected Treasurer of the City of Salem, and/or his/her duly authorized representative.
(Ord. 210119-01. Passed 1-19-21.)