HomeMy WebLinkAbout~Master - IDED application for financial assistance for BIVI RESOLUTION NO. 10-530
RESOLUTION APPROVING ENDORSEMENT OF
APPLICATION FOR FINANCIAL ASSISTANCE ON BEHALF OF
BOEHRINGER INGELHEIM VETMEDICA, INC.,WITH
LOCAL MATCH
FOR THE CITY OF AMES
WHEREAS, Boehringer Ingelheim Vetmedica, Inc., (BIVI) is one of the world's leading
pharmaceutical companies with operations in several locations in the United States; and,
WHEREAS,with the recent acquisition of Fort Dodge Animal Health,BIVI is expanding Iowa-
based operations, including the BIVI Health Management Center located in the ISU Research Park;
and,
WHEREAS,the company will be expanding a well-established business line and will retain 41
jobs in Ames and create an additional 20 jobs with an average annual salary of$78,800; and,
WHEREAS, the BIVI application for assistance to the Iowa Department of Economic
Development(IDED)will be reviewed for approval by the IDED later this month,and the local match
from the City will be contingent upon IDED assistance and future approvals by the City Council; and,
WHEREAS, for the IDED to continue consideration of this project,the Council must adopt a
resolution supporting the submittal of the BIVI application for IDED assistance; and,
WHEREAS,if Council supports the application for assistance,the local match for the project
will be a $61,000 forgivable loan.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that
the endorsement of an Iowa Department of Economic Development application for financial assistance
for Boehringer Ingelheim Vetmedica,Inc.,with a local match in the form of a$61,000 forgivable loan
is hereby approved.
ADOPTED THIS 161h day of November, 2010.
`4.G�-�i �C�v
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Wacha
Voting aye: Davis, Goodman, Mahayni, Larson, Orazem, Wacha
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 16'day of November, 2010.