Broward County Commission Regular Meeting
Director's Name: Maribel Feliciano
Department: Office of Economic and Small Business Development
Information
Requested Action
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A. MOTION TO ADOPT Resolution approving Project Axis for a Broward County Strategic Job Creation Incentive pursuant to Section 9½-52, Broward County Code of Ordinances (“Code”), in the total amount of $36,750 for Fiscal Years 2026 through 2031, based on the creation of 35 new, high-wage/high-skill jobs and an estimated capital investment of $2,200,000.
B. MOTION TO AUTHORIZE County Administrator to execute all necessary documents, including agreements and associated amendments, to effectuate and administer Project Axis’s participation in the Broward County Strategic Job Creation Incentive Program, including to approve changes to the job creation schedule for Project Axis, subject to review and approval as to legal sufficiency by the Office of the County Attorney and provided there is no increase in the County’s total financial commitment.
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Why Action is Necessary
A. Board approval is required for participation in any County economic incentive program pursuant to Section 9½-55, Broward County Code of Ordinances.
B. Board approval is required to authorize the County Administrator to execute any documents necessary to implement and administer the approved economic development incentive.
What Action Accomplishes
A. This action will allow the Office of Economic and Small Business Development (the “OESBD”) to offer economic incentives to Project Axis to facilitate its relocation to Broward County.
B. This action authorizes the County Administrator to execute all the necessary documents to effectuate and administer Project Axis’s participation in the Broward County Strategic Job Creation Incentive Program.
Goal Related Icon(s)
☒County Commission
☐Go Green
☐MAP Broward
Previous Action Taken
No previous action taken.
Summary Explanation/Background
THE OFFICE OF ECONOMIC AND SMALL BUSINESS DEVELOPMENT RECOMMENDS APPROVAL OF THE ABOVE MOTIONS.
This item supports the Board of County Commissioners’ goal of “Ensuring economic opportunities and a sustainable economy, with an emphasis on Broward’s lower and middle class.”
Project Axis is a global medical device sales & distribution company specializing in orthopedic implants and robotic-assisted surgical technologies currently headquartered in Norristown, Pennsylvania. The company is considering establishing a Southeast Regional Headquarters at One Financial Plaza in Fort Lauderdale, with the facility serving as (1) the national operations hub for the company’s robotic-assisted surgery division, and (2) a Southeast regional sales office for the company’s orthopedic implant portfolio. The facility will house robotics operations, technical support, sales management, territory sales, and a surgeon training center. The project would result in the creation of 35 new high-wage/high-skill jobs. Locations in Miami-Dade, Florida, Tampa, Florida, Orlando, Florida, Texas, Nevada, and Pennsylvania are also under consideration for this project.
If Project Axis chooses to locate its facility in the City of Fort Lauderdale, an additional $79,595 in taxable value would be added to the Broward County tax roll. The new job average annual wage is $106,172. The average wage amount exceeds 150% of the County’s average private sector annual wage. The new job median wage would be $120,000.
The Broward County Strategic Job Creation Incentive Program (SJCI Program) is available for companies, on a performance-driven basis, that create high-wage jobs in targeted, high value-added industries. As an approved participant in the SJCI Program, Project Axis will continue to provide targeted industry goods and services to meet growing industry demand. As a life sciences and corporate headquarters project, Project Axis is part of Broward County’s targeted industry groups and will enhance the County’s targeted industry strategy
In an effort to ensure inclusion of Broward County’s certified small businesses in opportunities that may be created as a result of this project, the Alliance has committed to: 1. distributing information on the County’s small business program to Project Axis; 2. providing Project Axis with information on accessing the County’s small business database; 3. assessing the needs of Project Axis as the project develops; and 4. communicating to the OESBD any potential opportunities for County-certified small businesses to meet those needs.
The accompanying Tax Revenue/Incentive Payout Analysis memorandum and spreadsheet (Exhibit 2) indicates that the anticipated tax revenue generated from the project meets Broward County’s threshold for positive net return, based on the creation of 35 new, high-wage/high-skill jobs with an average annual wage greater than 150% of the average annual private sector wage in Broward County, a total capital investment of $2,200,000, new taxable value of $79,595, and a positive net return on investment of approximately 49%. Therefore, approval is recommended.
All recommended incentives are pay for performance incentives calculated on the basis of $1,050 per qualifying job created, with the City of Fort Lauderdale committing an additional $450 per qualifying job created.
Based on the creation of 35 high-wage/high-skill jobs and the projected capital investment, the total proposed incentive amount is as follows:
Strategic Job Creation Incentive - County $36,750
Strategic Job Creation Incentive - City $15,750
Total Proposed Incentive Amount - $52,500
Source of Additional Information
Maribel Feliciano, Director, OESBD, (954) 357-6400.
Fiscal Impact
Fiscal Impact/Cost Summary
The total cost to Broward County would not exceed $36,750 (calculated at $1,050 per qualifying job). Incentive payments would be paid from the County’s General Fund and correlate to revenues generated by Project Axis’s expansion in Broward County.