Title
Supporting a Job Creation Fund application in connection with ForwardEdge ASIC LLC for a project proposed at 2340 or 2344 Energy Park Drive (District 12, Ward 4).
Body
WHEREAS, the City of Saint Paul, Minnesota (the “City”), desires to assist ForwardEdge ASIC, LLC a microelectronics design company, which is proposing to locate a facility in the City; and,
WHEREAS, the City of Saint Paul understands that ForwardEdge ASIC, through and with the support of the City, intends to submit to the Minnesota Department of Employment and Economic Development an application for an award and/or rebate from the Job Creation Fund Program; and,
WHEREAS, the City of Saint Paul held a city council meeting on April 12, 2023, to consider this matter.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAINT PAUL, Minnesota, that, after due consideration, the Mayor and City Council of the City of Saint Paul, Minnesota, hereby adopts the following findings of fact related to the project proposed by ForwardEdge ASIC and its application for an award and/or rebate from the Job Creation Fund Program and express their approval.
The Mayor and City Council hereby finds and adopts the reasons and facts supporting the following findings of fact for the approval of the Job Creation Fund Program application:
1. Finding that the project is in the public interest because it will encourage the growth of commerce and industry, prevent the movement of current and future operations to locations outside Minnesota, result in increased employment in Minnesota, and preserve or enhance the state and local tax base.
a. The project will result in a significant private investment in Saint Paul and the State of Minnesota over the next 5 years
b. The project will create approximately 100 high-paying and stable jobs ...
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