City approves tax incentive for Mobiquity
Published: Thursday, January 17, 2013 at 8:22 p.m.
Last Modified: Thursday, January 17, 2013 at 8:22 p.m.
The City Commission on Thursday approved a tax incentive for a Massachusetts technology firm contemplating expanding to Gainesville.
Commissioners approved a tax rebate of up to $208,000 for Mobiquity, a mobile application developer that is eyeing the city. The maximum rebate would be paid out over four years and is contingent on the firm bringing in 260 software development jobs with an average salary of approximately $49,000.
The incentive comes through the state's Qualified Target Industry program. The County Commission approved a rebate of up to $208,000 last week.
Combined, the city and county have a 20 percent local match of an incentive of up to $2.08 million, with state government responsible for the balance.
The incentive passed 6-0, with Mayor Craig Lowe absent to attend the U.S. Conference of Mayors.
Boston-based Mobiquity formed 18 months ago and has expanded to 150 employees, according to the company's QTI application. The firm is also considering Massachusetts, Colorado, Washington state, Nebraska and Rhode Island for its expansion.
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