CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Economic Development
For Meeting of:
April 28, 2014
District: 1 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Subject:
Antech Diagnostics Qualified Target Industry Tax Refund Resolution

Summary:

Antech Diagnostics (Antech) is an Indiana based company providing veterinary diagnostic testing services to more than 19,000 animal hospitals throughout North America. Antech operates more than 50 reference laboratories in the US and Canada, receives up to 45,000 samples daily and has more than 400 board-certified specialists available and on-call . Antech Diagnostics laboratories’ diagnostic spectrum includes more than 300 different tests in chemistry, pathology, endocrinology, serology, hematology and microbiology. This project will be Antech Diagnostics veterinary clinical reference laboratory for the Southeast and a new hub for Florida.

If the Qualified Target Industry (QTI) program incentive is made available to the company, Antech Diagnostics will create 45 new-to-Florida jobs by December 31, 2015, paying an annual average wage of $48,686, which is at least 115% of the Orange County annual wage. The average value of benefits that will be available to employees is $6,816, which includes health insurance, 401(k) contributions and paid vacations. Antech Diagnostics’ total capital investment is estimated to be $1,350,000 in construction and equipment. In addition to the City of Orlando, the company is considering Georgia and Alabama for this expansion.

The State of Florida will provide a total of $135,000 to Antech Diagnostics under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $600 per job created, paying an average annual wage of $48,686. Under this arrangement, the City of Orlando would provide $27,000 as an incentive over a five-year period.

The City of Orlando will benefit through the creation of 45 positions over the next two (2) years and the likelihood of continued job growth and investment well beyond this time frame. Florida's Qualified Target Industry Program includes strict accountability requirements of the applicant. The pledge of funds pursuant to this resolution shall be contingent upon Antech Diagnostics being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.


Fiscal & Efficiency Data: Fiscal Impact Statement attached

Recommended Action:
Approval of the Antech Diagnostics Qualified Target Industry Tax Refund Resolution and authorizing the Mayor or Mayor Pro Tem and City Clerk to execute same, subject to review and approval of the City Attorney's Office.


Agenda Item attachment(s) on file in the City Clerks Office.

Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.

Contact: Emily Brown
Approved By:

Department Date and Time
Planning and Environmental Attorney 4/15/2014 3:00 PM
Budget Outside Routing Approval 4/16/2014 4:31 PM
City Clerk 4/17/2014 8:36 AM

ATTACHMENTS:
Name: Description: Type:
QTI_Resolution_-_Antech_Diagnostics.docx QTI Resolution - Antech Diagnostics Backup Material
Antech_Diagnostics_FIS.docx FIS Fiscal Impact Statement

"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."