Discussion Agenda Item III.A.3 Approval of Resolution of the Orange County Board of County Commissioners regarding AcAeSoftware, LCC Qualified Target Industry Tax Refund

Qualified Target Industry Tax Refund Program State QTI Program Created 1994 Section Florida Statutes Goal: Encourage growth of high-skill, high- wage jobs in target industries Tax refunds for each job created Tax refunds based on 1) number of jobs created, and 2) average salary of these jobs Tax refunds paid over time only after jobs are created, maintained, and taxes paid State provides 80% of the payments Local government pays 20%

American Computer Aided Engineering, LLC High-tech design, consulting, and support services for companies using electronic design automation software (EDA or ECAD) EDA is a category of software tools for designing electronic systems such as printed circuit boards and integrated circuits. Global Q revenue = $1.3 billion

American Computer Aided Engineering, LLC Founded in England in 1983 Moved headquarters to Maitland in 1994 Founder completed move to Maitland in full-time staff with a network of consultants around the world Majority of customers are global Fortune 1000 companies.

Industry-wide problem… Translating active and legacy data across platforms Incomplete and inaccurate translations Partial results / manual translations needed “We spent 7 years trying to solve the translation issue with EDA software, and failed.” Technical Division Head Fortune 500 Company

Solution… Focus at AcAe, both company and personal, became finding a solution to translation among EDA software platforms AcAe forms AcAeSoftware, LLC as development of its proprietary DART Design Migration Technology product family comes to fruition – AcAeSoftware, LLC is ready to grow

Decision time: Stay and grow in Orange County or elsewhere — Texas or Ohio. 8 existing high-wage jobs are at stake 93 new high-wage jobs A possible “blockbuster” company for Orange County Company preference is to stay and grow in Orange County AcAe a good community partner – e.g. UCF

18 in in in 2013 At least 150% the prevailing wage 93 new high-wage jobs 5 management & administrative positions 7 sales positions 81 engineering positions Each category ave salary > prevailing wage

Eligible for $4,000 per job 93 jobs X $4,000 = $372,000 total QTI State share = 80% = $297,600 Orange County share = 10% = $37,200 City of Maitland share = 10% = $37,200 Paid over 6 years after jobs are both created and maintained First Orange County QTI payment = $1,800 in FY QTI Incentives

Approval of a City of Maitland resolution committing to pay 10% of QTI On an annual basis, award by the State of Florida of tax refunds under QTI Appropriation by the BCC each year authorizing a QTI payment. Payment by AcAeSoftware and its parent company of Orange County property taxes due for the calendar year in which payment is requested. Orange County QTI Payments Contingent Upon:

Tracy Turk Metro Orlando EDC Project Manager William Basten CEO, AcAeSoftware, LLC Thank you…

Approval of Resolution of the Orange County Board of County Commissioners regarding AcAeSoftware, LLC Qualified Target Industry Tax Refund. Actions Requested