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8.“Targeted Industry,”means specific industrial activities, or companies involved inspecific industries <br />that have been identified as a desirable industry for our recruitment program. <br />9."State economic development funds, “means financial incentives by or throughstate government. <br />10."Net Present Value," means the discounted value of an investment's cash inflows minus the <br />discounted value of its cash outflows. <br />Incentive Policy <br />Firm -Based Investments <br />San Marcos is committed to the promotion of quality development in all parts of the City and to <br />improving the quality of life for its citizens. In order to meet these goals, the City Council will consider <br />providing incentives to stimulate economic development in San Marcos and itsextraterritorial <br />jurisdiction (ETJ). The city will consider providing incentives to appropriate businesses in accordance <br />with the procedures and criteria outlined in this Policy. Prospective businesses are strongly encouraged to <br />discuss potential incentives with the Greater San Marcos Partnership, City officials and staff members <br />early in the stage of a permit has been issued for the project before an incentive application is submitted. <br />Minimum Requirements: <br />The Firm must be located within the Preferred Scenario Map unless special consideration is <br />o <br />given by San Marcos City Council. <br />The Firm must comply with current City of San Marcos water quality regulations on all current <br />o <br />projects and duringterm of incentive agreement. (reference: City CouncilResolution) <br />A.Overall Economic and Fiscal Impact <br />What is the absolute size of the net benefit? <br />o <br />Economic impact as measured by jobs and income <br />Level of desirable public benefits included in the project <br />Net fiscal impact to the City <br />Does the project fit with one of the strategic targets identified? <br />o <br />Is the firm a headquarters operation? Does it represent the “headquarters” of a new product <br />o <br />line/service for the firm? <br />Is the firm growing? Is the firm in a growing industry? How stable is the firm? <br />o <br />Measurements: <br />Economic impact analysis (jobs, economic activity) <br />Net fiscal impact analysis <br />Discussion of other items <br />Local Linkages to the San Marcos Economy <br />B. <br />Does the project make use of an especially underutilized asset? <br />o <br />Certain segments of the labor force /current office space <br />Will the project create significant contracting opportunities for local firms? <br />o <br />Small /disadvantaged business <br />Does the project fill a gap in the San Marcos economic base? <br />o <br />Key supplier relationships <br />2 <br /> <br /> <br />