Common use of Job Creation and Retention Clause in Contracts

Job Creation and Retention. Developer covenants and agrees to employ and maintain a minimum Full-Time Equivalent Employment Positions working at the Property as follows: (1) a minimum of eight (8) Full-Time Equivalent Employment Positions by July 1, 2024; (2) a minimum of ten (10) Full-Time Equivalent Employment Positions by July 1, 2025; (3) a minimum of twelve (12) Full-Time Equivalent Employment Positions by July 1, 2026; (4) a minimum of fourteen (14) Full-Time Equivalent Employment Positions by July 1, 2027; (5) a minimum of sixteen (16) Full-Time Equivalent Employment Positions by July 1, 2028; and (6) a minimum of eighteen (18) Full-Time Equivalent Employment Positions by July 1, 2029. Further, Developer covenants and agrees beginning on July 1, 2024, and during the Term of this Agreement, Developer shall deliver to EDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”). The Developer covenants and agrees beginning on July 1, 2024, and annually thereafter during the Term of this Agreement, there will be a total of six (6) Annual Compliance Verifications due and submitted to the EDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement. All Annual Compliance Verifications shall include quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports.

Job Creation and Retention. Developer covenants and agrees to employ and maintain a minimum Full-Time Equivalent Employment Positions working at the Property as follows: (1) a minimum of eight (8) Full-Time Equivalent Employment Positions by July 1, 2024; (2) a minimum of ten (10) Full-Time Equivalent Employment Positions by July 1, 2025; (3) a minimum of twelve (12) Full-Time Equivalent Employment Positions by July 1, 2026; (4) a minimum of fourteen (14) Full-Time Equivalent Employment Positions by July 1, 2027; (5) a minimum of sixteen (16) Full-Time Equivalent Employment Positions by July 1, 2028; and (6) a minimum of eighteen (18) Full-Time Equivalent Employment Positions by July 1, 20292028. Further, Developer covenants and agrees beginning on July 1, 2024, and during the Term of this Agreement, Developer shall deliver to EDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”). The Developer covenants and agrees beginning on July 1, 2024, and annually thereafter during the Term of this Agreement, there will be a total of six (6) Annual Compliance Verifications due and submitted to the EDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement. All Annual Compliance Verifications shall include quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports.