City Council Meeting
City of DeBary
Subject: Approval of Jobs Growth Incentive Agreement with Dynamic Aspects
From: Roger Van Auker, TOD Marketing Director
Meeting/Hearing Date: December 2, 2015
( ) Ordinance
( ) Resolution
( ) Other
(X) Supporting Documents/Contracts
Dynamic Aspects is a company which specializes in sign and lighting projects.
It is anticipated that by the end of their second year a total of six (6) new positions will be added with an annual salary range of $ 31,000.00.
The Jobs Growth Incentive Program was enacted by Ordinance #13-98. ~The Ordinance provides for incentives to entice and assist companies with relocating to the City of DeBary. Dynamic Aspects will locate its business operations in the City of DeBary and lease a building at 901 S. US Hwy. 17-92.
The Company will:
1. Locate at least thirteen (13) employees with an average salary of $ 31,965.00.
2. Add up to six (6) new employees within the first two (2) years of continued operations with an average salary of $ 31,000.00.
3. New permanent jobs created will be for a minimum duration of two (2) years.
The City of DeBary has made an incentive offer that could total up to $ 6,950.00. The following incentive was offered to assist Dynamic Aspects in offsetting the cost of locating to the City of DeBary.
1. $ 350.00 for each employee relocated to the City of DeBary. The job creation grant would total $ 4,550.00 for the first thirteen (13) employees Dynamic Aspects would relocate.
2. $ 400.00 for up to a maximum of six (6) additional employees hired within the first 2 years of operation. This equates to a maximum of $ 2,400.00 for the six (6) additional employees.
Approve the Jobs Growth Incentive Agreement with Dynamic Aspects to relocate their offices to the City of DeBary in an amount not to exceed $ 6,950.00.
City Council Action:
( ) Approved As Recommended
( ) Approved With Modification
( ) Disapproved
( ) Continued Date:
( ) Other