| Item Title: | Economic Development Chapter 381 Project Zoey |
| Submitted By: | Andrea Adkins-Hutchins, Director, Economic Development Department (571) 458-6296 |
| Subject: | Approve and authorize the County Judge to sign a Chapter 381 Economic Development Agreement with Project Zoey. (Contract No. 2019-0584 and 2019-0599) |
| Background: | Charter Communications, Inc. is a fortune 500 company with presence in 41 US States. Charter Communications is an American telecommunications and mass media company that offers residential and commercial services. Currently, the company provides services to over 26 million customers. It is the second-largest cable operator in the United States by subscribers. Charter is proposing to expand its operations in El Paso County by investing or causing to invest approximately $2.3M between real, personal property, and 800K in training dollars. The company also proposes to retain 578 jobs and create 350 new full time positions. All new full time jobs to be created pay above MCW. The Company was established in 1993 and is headquartered in Stamford, Connecticut. |
| Fiscal Impact: | Charter Communications qualifies for the following incentives:
90% Personal tax rebate for 10 years - $19,124.11
90% Real Property tax rebate for 10 years - $10,434.81
Customized Training for 3 yrs - $100,000.00
Impact Fund for 3 yrs - $25,499.03
Total $155,057.95
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| Recommendation: | Approve and authorize the County Judge to sign a Chapter 381 Economic Development Agreement with Project Zoey. (Contract No. 2019-0584 and 2019-0599) |
| Prior Action: | Executive Session - July 15, 2019
Executive Session - August 05,2019
Executive Session - August 12, 2019 |
| Strategic Plan: | .. |
| Strategic Plan Information: | |