State and county officials will pay the International Association of Amusement Parks and Attractions $240,000 to move its headquarters to Orlando, Fla., under a plan that could be approved Nov. 1, the Orlando Sentinel reported.

IAAPA announced in September plans to relocate its headquarters from Arlington, Va., to Orlando sometime next year. The move was contingent upon financial incentives from the state of Florida and Orange County, where Orlando is located.

The association didn't disclose the incentives but Florida officials recently made the terms of the agreement public. The state would give the group $192,000, the newspaper reported. Orange County would provide $48,000 in a five-year period.

The Orange County Board of County Commissioners is scheduled to vote on the agreement at its Nov. 1 meeting.

IAAPA said it would create 40 news jobs in the county with an average salary of $65,834. The $20 million-revenue association reported 39 staff on its most recent tax records.

The association has also announced it would extend a contract to hold the group's annual conference and trade show in Orlando at the Orange County Convention Center for another five years. IAAPA is currently committed to hosting the show at the convention center until 2025, with the agreement pushing that date back to 2030.

IAAPA CEO Paul Noland previously said Orlando would be a good fit for the group given the region is home to Walt Disney World, Universal Orlando Resort and other notable amusement parks. http://bit.ly/2eMLBnt

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