Bay County Commissioners are once again approving economic incentive money on an unnamed project. For now the project is being called "Project Freckle."
Unlike the Red Pine medical fiasco, this time the company will have to create the jobs before getting the money.
The commissioners voted Tuesday to approve incentive money for something called "Project Freckle." But the approval didn't come without some caution.
Commissioners say Project Freckle is a company that plans to create 83 jobs with the average annual salary of about 68-thousand dollars. Project Freckle officials plan to apply for state tax incentive refunds of about 415-thousand dollars. In return, the county will match 83-thousand dollars in refunds.
However, the money won't be paid in advance as it was in the 2011 Red Pine medical deal. In that case, the company went out of business in less than a year, and the county is still trying to recoup about 300-thousand dollars in losses. Therefore, Project Freckle officials won't get the money until they create the jobs.
The county agreed to pay Project Freckle the incentive money over a minimum of three years if jobs are created.