Summary:
Just Program LLC d/b/a Solodev (Solodev) is a website, mobile application and software development company. Solodev also provides other related services including graphic design, marketing, branding, advertising, search engine optimization and custom programming and consulting.
On September 15, 2014, the Orlando City Council approved a Resolution in support of a Qualified Target Industry (QTI) program incentive for Solodev to create 25 new-to-Florida jobs by December 31, 2017. Pursuant to the terms of their Agreement with DEO, Solodev will create 25 new-to-Florida jobs by December 31, 2018, paying an annual $63,504, which was at least 150% of the Orange County annual wage at the time the original agreement was made.
The company now seeks to exercise its option for a one-year “push” that is built into their Agreement with the State of Florida’s Department of Economic Opportunity (DEO). As such, the payment schedule set forth in the original Resolution needs to be amended.
Solodev will incur a 5% penalty for exercising the one-year push option. The State of Florida will provide a total of $142,500 to Solodev under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $1140 per job created, paying an average annual wage of $63,504. Under this arrangement, the City of Orlando would provide $28,500 as an incentive over a six-year period.
The City of Orlando will benefit through the creation of 25 positions 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 Solodev 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. |