Title
RESOLUTION APPROVING BUSINESS AND DEVELOPMENT INCENTIVES FOR RUSH TRUCK CENTERS OF COLORADO, INC.
Body
Rush Truck Centers of Colorado is requesting Existing Business Incentives pursuant to the Commerce City Incentive Program. Approval is being requested for incentives totaling an estimated $.118,114.66. This incentive figure is based off of $13.3 million total capital investment. This investment will create an estimated 25 new jobs. This request is supported by the Economic Development Division for the following reasons: 1) creates a significant sales tax revenue stream for the city. 2) all 25 jobs are expected to pay above the county average wage.
Staff Responsible (Department Head):Walter Williams
Staff Member Presenting: Walter Williams
Financial Impact: Total estimated amount of incentives is $118,14.66. The final amount will be determined based on an audit of actual capital investment, jobs created and taxes generated
Funding Source: The incentives are funded by rebates of City sales and/or use tax, City building permit and plan check fees.
Staff Recommendation:
Staff recommends approval of this incentive request
Suggested Motion:
I move approval of Resolution 2013-14, providing business incentives to Rush Truck Center of Colorado