Tube Dude To Voluntarily Return County Grant.
Scott Gerber, Tube Dude founder, recently signed an agreement to reimburse Sarasota County the $56,000 Tube Dude received in 2011 as part of an Economic Development Grant. The reimbursement is scheduled for six $9,333 installments through July 2016, coinciding with the end of the Economic Development Grant period. The first payment was made on February 28, 2014.
“Returning the grant was my decision. It got to the point I didn’t want the county’s money. That’s why I didn’t file for the additional employees (5) we hired,” shares Gerber. “I first approached the county in early November (2013). This took some time to consummate as the county wasn’t prepared for the return of the grant. The funds I am returning met the criteria for distribution,” he adds.
Gerber’s grant from the county specified the release of $56,000 upon proof of capital equipment purchases in excess of $50,000 to expand the business and $1,000 per new employee hired and documented (to a maximum of $44,000). Gerber had two more years to create the 44 jobs he agreed on and indicated he could have met that requirement. www.tube-dude.com [1]
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