SUBJECT:
Title
Request Approval of Extension Letter Relating to Wells Pharmaceutical Outsourcing LLC’s Qualification as a Target Industry Business (Budget Impact - None)
Body
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INITIATOR: |
DEPARTMENT: |
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Michael McCain, Executive Director |
County Administration |
DESCRIPTION/BACKGROUND:
On May 18, 2021 the Board consented to Wells Pharmaceutical Outsourcing, LLC (Wells) to extend the Job Creation Schedule, Tax Refund Schedule, and Job Maintenance Period, and the Expiration Date by 12 months.
Wells is now seeking an additional extension of its performance period and amendment to the Qualified Target Industry (QTI) due to the economic impacts suffered related to COVID-19, including a delay in starting operations.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize the Chairman to execute extension letter relating to Wells Pharmaceutical Outsourcing, LLC’s Qualification as a Target Industry Business.
end