City Council Meeting
City of DeBary
Subject: Approval of Jobs Growth Incentive Agreement with NuLine Sensors
From: Roger Van Auker, TOD Marketing & Economic Development Director
Meeting/Hearing Date: September 7, 2016
( ) Ordinance
( ) Resolution
( ) Other
( ) Supporting Documents/Contracts
The TOD Marketing/Economic Development Department is requesting City Council approval for a Jobs Growth Incentive Agreement with NuLine Sensors.
Relocate NuLine Sensors’ business operations to the City of DeBary at 901 S. US Hwy. 17-92, Suites 7 to 12 (leasing 12,000 sq. ft. of never occupied vacant space).
The Jobs Growth Incentive Program was enacted by Ordinance #13-98, which provides incentives to entice and assist companies with relocating to the City of DeBary. ~
NuLine Sensors is a medical device research and development company which specializes in wireless EKG patches. The company manufactures the prototypes in addition to providing testing and monitoring services for their products.
The Company will:
1. Locate at least ten (10) employees with an average salary of $ 75,000.00 and ten (10) employees with an average salary of $50,000 – $60,000.
2. Add up to twenty (20) new employees within the first two (2) years of continued operations with an average salary of $ 35,000.00.
3. New permanent jobs created will be for a minimum duration of two (2) years.
4. NuLine Sensors is investing approximately $ 85,000.00 for start-up and other related costs.
The City of DeBary has made an incentive offer that could total up to $ 19,000.00. The following incentive was offered to assist NuLine Sensors in offsetting the cost of locating to the City of DeBary.
1. $ 500.00 for each employee relocated to the City of DeBary. ~The job creation grant would total $ 10,000.00 for the first twenty (20) employees NuLine Sensors would relocate.
2. $ 600.00 for up to a maximum of fifteen (15) additional employees hired within the first 2 years of operation. ~This equates to a maximum of $ 9,000.00 for the fifteen (15) additional employees.
The funding of this agreement is a budgeted line item.
Approve the Jobs Growth Incentive Agreement with NuLine Sensors to relocate their offices to the City of DeBary in an amount not to exceed $ 19,000.00.
City Council Action:
( ) Approved As Recommended
( ) Approved With Modification
( ) Disapproved
( ) Continued Date:
( ) Other