Focus:
Targeted at businesses that create "primary jobs," which are jobs that produce goods or services for markets primarily outside the local area, thus bringing new money into the community.
Examples include manufacturing, warehousing, distribution, and some service industries.
Purpose:
To attract larger employers that can significantly impact the local economy by creating numerous high-paying jobs.
Encourages businesses that contribute to the economic base by exporting goods and services.
Eligibility:
Businesses must commit to creating a specified number of primary jobs within a certain timeframe.
Often includes requirements for job quality, such as minimum salary levels and benefits.
Uses of Funds:
May include infrastructure improvements, land acquisition, building construction or renovation, job training, and equipment purchases.
Impact:
Aimed at creating substantial economic growth and increasing the local tax base.
Typically involves larger financial commitments and long-term projects.