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REQUEST FOR COUNCIL ACTION <br />Date: 1/11/2016 <br />Item No.: <br />Department Approval City Manager Approval <br />Item Description: Resolution of Support for Calyxt, Inc. Job Creation Fund application <br />B <br />ACKGROUND <br />1 <br />Calyxt, Inc., an agricultural biotech firm, is applying to the Minnesota Department of <br />2 <br />Employment and Economic Development (DEED) for benefits from the Job Creation Fund <br />3 <br />Program. This program awards funds and capital investment rebates to businesses that create <br />4 <br />full-time, high-paying jobs. Businesses seeking these funds apply in concert with a local <br />5 <br />6 <br />Calyxt currently has 24 full-time employees and projects creating an additional 69 jobs over the <br />7 <br />next three years at an average annual salary of $62,000. It plans toacquire the northern portion <br />8 <br />of the long-vacant Pik Terminal property and redevelop the site into an approximately 40,000 <br />9 <br />square foot office building and outdoor research plots. <br />10 <br />The City approved a conditional research and development <br />11 <br />use on December 16, 2015. <br />12 <br />PO <br />OLICY BJECTIVE <br />13 <br />Encouraging businesses with family-sustaining jobs, redeveloping industrial brownfield sites, <br />14 <br />and supporting high quality businesses that enhance the tax base are all identified goals of <br />15 <br />Imagine Roseville 2025. <br />16 <br />BI <br />UDGET MPLICATIONS <br />17 <br />Nonesupporting the Calyxt application to DEED creates no financial obligations of any kind <br />18 <br />for the City. <br />19 <br />SR <br />TAFF ECOMMENDATION <br />20 <br />21 <br />for DEED Job Creation Fund Program benefits. <br />22 <br />RCA <br />EQUESTED OUNCIL CTION <br />23 <br />Motion to approve the resolution of support as submitted. <br />24 <br />Prepared by: Joel Koepp, GIS Technician <br />Attachments: A: Resolution <br />Page 1 of 1 <br /> <br />