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requirement defined in 2), herein, the EDA may also elect to increase the minimum job creation requirement defined in 1), herein, and/or to set a minimum annual salary requirement to be met by the Business Firm in order to qualify for the Business Personal Property Investment Grant. Herein, Targeted Industry means any of the following industry sectors: technology (as determined by the city manager or his designee but not to include Business Firms which merely sell technological products or use technology to produce non-technological products), modeling and simulation, maritime or logistics offices; corporate and professional offices; and healthcare. The final determination of whether a Business Firm conducts its primary business in a Targeted Industry shall be made by the city manager or his designee. (1) Qualified Machinery and Tool Investment Grant Recipient means a Business Firm located in an Enterprise Zone and engaged in manufacturing which shall 1 ) create at least twenty-five (25) New Positions in an Enterprise Zone all of which shall pay, at minimum, a Qualifying Wage, as herein defined, exclusive of fringe benefits; 2) invest at least $2,500,000 in taxable machinery and tools in an Enterprise Zone that does not replace machinery and tools taxed by the City at the time that application is made for a Machinery and Tool Investment Grant, except to the extent that the original cost of such machinery or tools exceeds the original cost of the machinery or tools to be replaced; 3) sign an Incentive Agreement which shall include, among other provisions, a Post- performance Provision, and 4) authorize the commissioner of the revenue to release pertinent data to the city manager or his designee. Notwithstanding 1) herein, if a Competitive Situation is determined to exist, the EDA may count retained existing positions toward the minimumjob creation requirement defined in 1), herein. Notwithstanding 2), herein, if a Competitive Situation is determined to exist, the EDA may reduce the minimum taxable machinery and tool investment required of the Business Firm to no less than $1,500,000, which is sixty percent (60%) of the