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Special Revenue Fund
The following table reflects the maximum level of 380 Grants available to a qualifying business based on the
required minimum salaries for net new full-time permanent jobs. All jobs must be filled and maintained for a
minimum of 3 years in order to qualify. Remedies for enforcement of this requirement will be established in the
Economic Development Program Grant Agreement.
Minimum Annual Wage Rate Maximum Amount Per New Position
$65,800 - $80,389 $1,000
$80,390 - $94,949 $1,500
$94,950 - $109,499 $2,000
$109,500 or above $2,500
FY2022 DISCUSSION
The fund has approved four awards since inception for a total amount of $2,090,750 which will be paid after
verification of job commitments has occurred. These approved awards include; $1,000,000 to Wesco/Incora
Aircraft for the creation of 615 jobs, $218,750 to Watts/PVI for the creation of 243 jobs, $212,000 to Ariat
International for the creation of 450 jobs, and $660,000 to Smart Action for the creation of 81 jobs. Since these
funds were provided by the Local Development Corporation, there is no impact to the general fund.
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