Project Plug-InEconomic Development Opportunity

Background• Local Company with International Company

Backing (Investment and Partnership)• Looking at Palm Coast and other Locations• Competing in Race to Capture Stake of

Smart GridSmart Grid Market• Create 40 Primary Jobs over Next 3 Years

– High Technology and Support Staff– 115% Above Flagler County Average Annual

Wage• State and Local Incentives Crucial to

Location Decision (Enterprise Flagler Pursing State Incentives)

Proposed Local Incentives

• Connection to City FiberNET at No Cost– Long Term Cost Reductions for Company– Estimated savings up to $500 per month

Proposed Local Incentives

• Local Job Creation Grant– Equivalent to Portion of Taxes

Generated by Leased Space for 5 Years– Based on Number of Local Employees

Proposed Local Incentives

• Job Relocation Cost Reimbursement– 50% of Job Relocation Costs– Up to $1,500 Reimbursement per

Employee– Must Relocate from Outside County– Must be above 115% of County Annual

Average Wage

Proposed Local Incentives

• Possible Future Partnerships– Product Rollout– Participation in Pilot Program

ALL INCENTIVES PERFORMANCE BASED