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Bounty for Business

The Palm Coast City Council is implementing a Business Incentive Program to support new businesses relocating or expanding in the area. Key components include eligibility requirements for businesses, an application submission process, and various reward options based on job creation and retention. The program aims to bring new businesses to Palm Coast, enhancing employment and economic growth. Interested businesses must pre-apply and cannot be home-based or have ownership interests. Funding is limited and awards are disclosed during City Council meetings.

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Bounty for Business

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  1. Bounty for Business

  2. City Council Workshop Direction/Discussion (February 28, 2012) • City Staff to Draft Program Guidelines • Conduct Informal Survey of New Businesses • Feedback from Chamber, Flagler County ED, and FCAR • Proposed Program Guidelines Direction/Discussion (March 13, 2012) • City Council to Provide Feedback to City Staff • City Staff to Summarize Feedback • City Council Workshop (May 29, 2012) • Feedback Summary • Finalized Program Guidelines • City Council Business Meeting (June 19, 2012) • City Council Consideration Background & History

  3. Section 3. Eligibility Requirements • Recruiter • Palm Coast Citizen or Palm Coast Business Owner • NOT City Manager, or on City Council • NOT Employed, or Volunteer in Economic Development • Must Pre-Apply for Program • Must Apply Every Year for Rewards • Business • Employ ≥ 3 Full Time Employees with NO Ownership Interest • Must Establish a Palm Coast Commercial or Industrial Location • NOT a Home Based Business • Must be a Primary Employer • Must be a Relocating or Expanding Business from Outside Flagler County • Must have been in Similar Business for at least 3 years Proposed Program Guidelines

  4. Section 4. Pre-Application - Provide Contact Information of Businesses • Section 5. Application Process - Submit Application and Documentation • Section 6. Reward Levels • Option A- $500/Job Created/Retained, Total Max $10k • Option B – Flat Fee with Business Incentives • Consensus - No Preference for this Option • Option C – Flat Fee of $1,000 Total for Recruiter • Certificate at Opening • $500 after 6 months • Additional $500 after 1 year • Section 7. Approval • Staff to Review Applications and Disclose Awards at City Council Meetings • First-Come, First Serve Basis, Limited to Funding Availability Proposed Program Guidelines

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