The City of Panama City is accepting applications for Job Creation Assistance Program to provide additional incentives that will encourage increased economic activity and investment in the CRA Districts.
Sponsoring Agency: City of Panama City
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/01/2021
Size of the Fund: Less than USD $50,000
The City of Panama City is accepting applications for Job Creation Assistance Program to provide additional incentives that will encourage increased economic activity and investment in the CRA Districts.
The CRA hopes to encourage 1) new business locations 2) substantial business expansion and 3) new investment that will preserve and expand the local tax base.
Projects that are especially encouraged for job growth and expansion involving the development of new business practices, technology, innovation, target new growth oriented markets, expand the growth of retail goods and services, provide for energy conservation and or develop practices/programs that would distinguish Panama City as a unique place of national significance to live, work and play.
Specific goals are:
• To provide an additional incentive for job creation that would result in increased employment opportunities in the various CRA districts and the City of Panama City.
• To provide additional recruiting tools and methods that would encourage economic growth and expansion.
• To help provide customized technical assistance that will directly lead to job creation and expansion of employment.
• Create a reasonable rate of return on the investment made by the CRA to create new employment opportunities.
• To help businesses that are creating new jobs to off-set expansion costs.
Funding Information
There are four levels in which Job Creation assistance shall be awarded:
• Level 1: $1000 per business that is created or expanded (must create at least two jobs) paying the Bay County annual average wage or greater.
• Level 2: $2,000 per business that is created or expanded (must create at least four jobs) paying the Bay County annual average wage or greater.
• Level 3: $5,000 per business that is created or expanded (must create at least seven jobs) paying the Bay County annual average wage or greater.
• Level 4: Up to $10,000 per business that is created or expanded (must create at least ten or more jobs) paying the Bay County annual average wage or greater.
Eligibility Criteria
In order to be eligible for a Job Creation grant award, the applicant must meet the following criteria:
• Applicant business must create a minimum of two or more full-time equivalent positions whose hours worked must equal at least 40 hours/week and retain these positions for at least one full year (365 days)
• Jobs created must meet or exceed the current annual average wage of Bay County
• Jobs created must be Net new jobs to the City and CRA area. (For example, net new jobs from outside of the CRA or a net new job created within the CRA.) A net new job cannot be a replacement of a current employee.
• Applicant property must be current on all City and County property taxes with no outstanding bills
• Applicant business and property must not be a sexually-oriented business as defined by Article III, Section 7-82, Panama City Code of Ordinances
More information at: https://www.pcgov.org/604/Grant-Applications
