Sec. 36.1-3 Definitions.
For the purposes of this chapter, the following phrases shall have the following meanings, unless clearly indicated to the contrary:
Technology business—the term technology business means a business which derives its gross receipts from the design, development, manufacture or other creation, for lease, sale or license of technology based products, processes or related services. Technology based products, processes or related services are defined as engaging in the activity of automation, biotechnology, biomedical research, electronics, computer hardware, computer software, defense, energy, environmental, manufacturing equipment, advanced materials, medical applications, pharmaceuticals, photonics, electronic based subassemblies and components, testing and measurements, telecommunications, systems integration, multimedia, e-commerce, internet services, transportation, architecture and engineering or similar activities. An electronic equipment facility that is primarily occupied, or intended to be occupied, by electronic and computer equipment that provides electronic data switching, transmission, or telecommunication functions between computers, both inside and outside the facility shall not qualify as a technology business. The use of computers, telecommunications services, or a web page or internet site shall not, in itself, be sufficient to qualify as a qualified technology business.
Qualified technology business--The term qualified technology business shall mean a business that:
(a) Makes a minimum net new capital investment of $100,000
(b) Within one year of the new capital investment, hires 5 net new full-time employees.
(1) A full-time employee is a person who is listed on the qualified technology business’s payroll within the technology zone and is required to report to work in the technology zone.
(2) A full-time employee’s wages must be equal to or greater than twice the federal
minimum wage rate.
(3) A full-time employee must be provided with health benefits. (Ord. of 01-11-11, O-11-003)
Last updated date: 2/2/2011 8:42:04 AM