Posts by: Economic Development HQ.com

Spanish Industrial Waste Management Firm Announces Headquarters Relocation to Merrillville, IN

Lake County and Indiana are getting yet another headquarters relocation from Illinois. This time, the company hopping across the state line is Spain-based industrial waste management and recycling services provider Tradebe.

TRADEBE

TRADEBE (photo – IEDC/tradebeusa.com)

Supported by State of Indiana tax credits and East Chicago economic development incentives, TRADEBE Environmental Services (USA) is relocating its headquarters from Oakbrook, IL to the Town of Merrillville, IN, and expanding its existing operations in East Chicago, IN.

TRADEBE Environmental Services, LLC (USA) is a subsidiary of subsidiary of Barcelona, Spain-based Tradebe, GP and Subsidiaries. The company will invest $150,000 to relocate its headquarters to the new site in Merrillville located just 20 miles from their existing East Chicago facility.

The headquarters relocation to Merrillville and expansion in East Chicago will create 55 new jobs in Indiana by 2017. This includes 30 high-wage jobs at the company’s headquarters operations.

This is the Tradebe’s second major expansion in Lake County in recent times. Last year, the company invested $16 million to expand and renovate its East Chicago facility to build a second Solids Distillation System (SDS) and create 25 new jobs. This SDS technology is the only one of its kind in the United States, and offers an effective and cost-efficient method for recycling organic solid waste.

TRADEBE specializes in recycling industrial waste into beneficial products and substitute fuels, and sets a high standard by recycling approximately 60 percent of the waste they process. Using SDS technology, TRADEBE annually processes more than 36,000 tons of hazardous waste, reclaims over 7,000 tons of scrap metal, and produces in excess of 2.7 million gallons of reusable solvents.

Worldwide, Tradebe employs more than 2,130 people and operates 72 treatment facilities spread across Spain, the U.K., U.S., France and Brazil.

Victor Creixell, chief executive officer of TRADEBE USA, said in a release that relocating their headquarters gives them the opportunity to bring much of their Midwest office staff together in one location to promote efficiencies within the organization with the new headquarters just 20 miles from the East Chicago facility.

Indiana Secretary of Commerce Victor Smith said in the release that when faced with a world of options, companies like TRADEBE continue to choose Indiana because of the state’s business-friendly climate and fiscal strength.

In order to secure the project, the Indiana Economic Development Corporation offered Tradebe up to $600,000 in post-performance tax credits tied to the company’s job creation plans. The Town of Merrillville is supporting the headquarters relocation project at the request of the Lake County Indiana Economic Alliance, and the expansion project has already been approved to receive East Chicago economic development incentives.

Merrillville Town Councilman Shawn Pettit said in the release that the town of Merrillville is pleased an international company like Tradebe selected their community, recognizing they can flourish in an ideal location and business-friendly environment.

East Chicago Mayor Anthony Copeland likewise added that they are proud that Tradebe continues to prosper in East Chicago. Mayor Copeland added that it’s imperative to support their existing businesses in expanding their operations as they are integral in growing the economy through jobs and investment.

Nano Utica Economic Development Initiative Brings 2000 ams and GE Global Research Jobs to New York

Governor Andrew M. Cuomo, who traveled to Utica to bring his “Capital for a Day” program to the Mohawk Valley region, announced a 31-point plan to advance the Mohawk Valley region.

The 31-point plan included the launch of the next phase of the Nano Utica economic development initiative. At the campus of SUNY Polytechnic Institute in Utica, Gov. Cuomo announced that ams AG and GE Global Research will create nearly 2,000 jobs under the next phase of Nano Utica.

Video – NYGovCuomo

ams AG, which manufactures high performance sensor solutions and analog ICs, will initially invest over $2 billion for building a 360,000-square-foot 200/300 mm wafer fabrication facility at the 450-acre Nano Utica site in Marcy, NY.

ams is undertaking this project in partnership with SUNY Poly CNSE, Fort Schuyler Management (FSMC) and Mohawk Valley Edge. As a result of this project, ams will create and retain more than 700 full time jobs. The company also anticipates the creation of at least another 500 support jobs by contractors, suppliers and partners the wafer fabrication facility requires to enable its advanced manufacturing operations.

GE Global Research will become an anchor tenant at the Computer Chip Commercialization Center (QUAD C) on the campus of SUNY Polytechnic Institute’s Colleges of Nanoscale Science and Engineering in Utica. GE is partnering with SUNY Poly to develop a Power Electronics packaging facility at QUAD C.

As a result of this project, nearly 500 jobs are expected to be created in the Mohawk Valley over the next five years by GE and its affiliated corporations, and by SUNY Poly. The project is expected to support the creation of another 350 jobs in the subsequent five years after that.

Announcing these projects, Gov. Cuomo said in a release that “This is a transformative moment that will make a difference in peoples’ lives in the Mohawk Valley for generations to come.”

“With GE and ams joining the Nano Utica initiative, we’re seeing the region’s economy gathering momentum unlike ever before,” added Gov. Cuomo.

Dr. Alain Kaloyeros, president and chief executive officer of SUNY Polytechnic Institute, said in the release that this announcement is a is a tremendous victory for the Mohawk Valley and the entire State of New York. “Governor Cuomo’s pioneering economic development model, coupled with SUNY Poly CNSE’s world class expertise and resources, continues to generate historic investment and job creation throughout the state,” added Dr. Kaloyeros.

Utica Mayor Robert Palmieri noted that the Nano Utica initiative is revolutionizing the local economy, bringing global companies, billions of dollars in private investment, and thousands of jobs to the region. Mayor Palmieri added that this is something he couldn’t have even imagined a decade ago.

Nano Utica is a $1.5 billion economic development blueprint unveiled by Gov. Cuomo in 2013 to revitalize the Mohawk Valley. The idea was to establish a dynamic nanotechnology-driven ecosystem by replicating the successful public-private investment model of SUNY Poly’s College of Nanoscale Science and Engineering (CNSE) in Albany.

Based on this model of state investment for building unique state-owned facilities and infrastructure to be used by private companies in partnership with CNSE, New York State committed to investing $250 million into QUAD C and the Marcy Nanocenter to support critical equipment and infrastructure improvements. The result is that the Nano Utica initiative is now projected to create more than 4,000 jobs over the next ten years.

Mercedes-Benz Attracts Another Supplier to Tuscaloosa County, AL With 650 Jobs

The Mercedes-Benz U.S. International Plant in Tuscaloosa County has brought yet another Mercedes supplier to Alabama. This time, it is the Botzingen, Germany-based Samvardhana Motherson Peguform (SMP) that is establishing a presence in Tuscaloosa County in order to be close to the Mercedes assembly plant.

Mercedes-Benz U.S. International Plant in Tuscaloosa County, AL

Mercedes-Benz U.S. International Plant in Tuscaloosa County, AL (photo – Carol M. Highsmith/Library of Congress)

Supported by the Alabama Department of Commerce and the Tuscaloosa County Industrial Development Authority (TCIDA), the company is investing $150 million to establish a 700,000-square-foot manufacturing facility in the Cedar Cove Technology Park located east of the city of Tuscaloosa, less than four miles from the Mercedes plant in Vance, AL.

SMP, which is one of the group companies of the Samvardhana Motherson Group (SMG), will operate the new venture in Alabama as SMP Automotive Systems Alabama Inc. The facility will produce exterior and interior components for future vehicle models produced at the Mercedes assembly plant.

In a release announcing the project, Governor Robert Bentley said that “We have worked hard to recruit well-paying jobs for the people of this state, and I am honored to see SMP expand to Alabama.”

Vivek Chaand Sehgal, chairman of the Samvardhana Motherson Group, said in the release that they are very excited to finally establish a footprint in the Tuscaloosa region. Sehgal added that the new plant will be a clear sign of a successful partnership with their customer and the state of Alabama.

This announcement by SMG follows on the heels of the $530 million investment plan announced earlier this month by Kamtek, another Mercedes supplier, for its operations in Birmingham, AL. These investments build on the $3.6 billion in auto-related investment that Alabama has received between 2012-2014. A lot of this growth is linked to the state’s fast-growing auto supplier network, which now includes more than 140 companies.

Greg Canfield, secretary of the Alabama Department of Commerce, said in the release that the Alabama economic development team has targeted growth in the state’s auto supply chain because it serves to strengthen the industry’s foundation in the state.

Sec. Canfield added that developing partnerships with global suppliers like SMP reflects this strategy and sets the stage for additional job-creation and growth in Alabama’s advanced manufacturing sector.

In order to secure the project for Alabama, the state has offered the company a package of incentives totaling around $27 million, including tax benefits and support for workforce development. TCIDA, which manages the Cedar Cove Technology Park, has approved Tuscaloosa economic development incentives in the form of a 10-year tax abatement for the project.

SMG Managing Director and Head of Corporate Office Europe and Americas Andreas Heuser said in the release that they would like to thank TCIDA and Alabama for all the support provided to their Group. “I can say, that we feel very welcome and at home here in Tuscaloosa,” added Heuser.

TCIDA Executive Director Dara Longgrear likewise responded that the Tuscaloosa County Industrial Development Authority is pleased to welcome Samvardhana Motherson Group into their internationally-focused region and into one of the southern United States’ largest automotive clusters.

Botzingen, Germany-based Samvardhana Motherson Peguform (SMP) has more than 10,000 employees in facilities on four continents, and generated revenue approaching $2.5 billion last year. SMP is one of the group companies of Samvardhana Motherson Group (SMG), which has operations in 25 countries across the Americas, Europe, Asia Pacific and Australia, South Africa, and the Middle East. The company’s wide range of products is manufactured in more than 170 facilities and 24 design centers around the world by over 70,000 employees.

Haier America Breaks Ground on Expansion of Camden, SC Operations

Haier America, a subsidiary of global consumer electronics and home appliances company Haier Group, is breaking ground today on an expansion project at its Camden facility in Kershaw County, SC.

Haier

Haier (photo – haier.com)

Supported by the South Carolina Dept. of Commerce and the Kershaw County Economic Development Office, the company is investing $72 million to nearly double its existing 300,000-square-foot facility in Camden with the addition of another 250,000 square feet of space.

The expansion will increase Haier’s production capacity and enable the company to create more than 400 new jobs for Camden and Kershaw County over the next five years, adding to the 250 existing employees.

Haier opened its first U.S. manufacturing facility in Camden in 2000 to produce refrigerators for the U.S. market. That $30 million investment was one of the first major Chinese investments for establishing a manufacturing facility in the United States.

At that time, Haier cited the cost of land, access to skilled labor, and proximity to port facilities to ship components and capital goods as the reasons it chose South Carolina for the project.

The Haier project also brought a lot of attention for Kershaw County and Camden economic development as attractive destinations for investment and job creation projects. The company has received a Community Contribution Award from the City of Kershaw, and a Job Creating Award from the South Carolina Government.

Haier America has since made good on its promise as a driver for local and regional economic growth, and has become one of the county’s largest employers with 250 employees. The company also subsequently established a multi-million dollar research and development center as part of its expanded 110-acre Haier America Industrial Park campus in Camden.

This new expansion of the Camden facility with a $72 million investment and up to 410 new jobs is the latest in a series of investments by the Haier Group in its U.S. operations, including the recent opening of its new Technology and Design Center of Excellence in Evansville, IN, and the relocation of Haier America’s headquarters operations into an expanded 56,000 square-foot facility in Wayne, NJ.

Wayne, NJ-based Haier America is a subsidiary of the Qingdao, China-based Haier Group. The company, which employs more than 70,000 people worldwide and distributes products in more than 100 countries and regions, generated $32.1 billion in revenues last year and is the world’s number one major appliances brand by volume.

U.S. Economic Development Administration Turns 50

On Aug 26, 2015, the U.S. Economic Development Administration will turn 50. Commerce and EDA officials are celebrating the agency’s 50th anniversary with shared messages and stories about EDA’s work and the impact it has had.

US EDA 50th anniversary

US EDA 50th anniversary (photo – eda.gov)

The Economic Development Administration was established under the Public Works and Economic Development Act of 1965, signed into law on August 26, 1965 by President Lyndon Johnson. After 50 years, the EDA still remains the sole federal government agency focused exclusively on economic development.

EDA has a critical role to play in fostering regional economic development efforts, and supports development in economically distressed areas of the United States through strategic investments that foster job creation and attract private investment.

Through six regional offices located in Atlanta, Austin, Chicago, Denver, Philadelphia and Seattle, the EDA works directly with local economic development officials to make grant investments for projects that align with local and sustainable, long-term economic development strategies.

EDA’s investment programs include Public Works, Economic Adjustment, Partnership Planning, Trade Adjustment Assistance, University Centers, Research and National Technical Assistance, and Local Technical Assistance.

Assistant Secretary of Commerce for Economic Development Jay Williams said in a message that “I am honored and privileged to serve as Assistant Secretary for this incredible agency and to shepherd EDA into its 50th year.”

“EDA has an incredible and storied history, but it’s got an even more promising future…With your continued support and partnership, I can say with certainty that there will be even more to celebrate over the next 50 years,” said Williams.

Assistant Secretary Williams and U.S. Secretary of Commerce Penny Pritzker have both issued video messages congratulating EDA on 50 great years. You can see the videos here and here.

“For the past 50 years, EDA has opened the gates of opportunity by designing programs tailored to the unique needs and resources of individual communities…and 50 years later, EDA’s vital and essential work continues,” said Sec. Pritzker in the message.

“To everyone who works at EDA, thank you all for your commitment, your leadership, and your service. Congratulations on your 50th anniversary,” added Sec. Pritzker.

As part of the 50th anniversary celebrations, EDA is seeking stories, pictures, videos, and quotes from communities that have received EDA funding. You can likewise share the impact that the EDA’s investment has had or is having on your community by sending your stories to edanews@eda.gov.

Iowa Considers Economic Development Incentives for GoDaddy Expansion in Hiawatha

The agenda for the next meeting of the Iowa Economic Development Authority includes an application for approval of financial assistance for an expansion project by GoDaddy.com, LLC in Hiawatha, IA.

GoDaddy.com

GoDaddy.com (photo – Hans J E/flickr)

Supported by the City of Hiawatha, the Cedar Rapids Metro Economic Alliance, and a state economic development tax credit award for job creation, GoDaddy.com is planning to invest $6 million for an expansion and renovation of its facility in Hiawatha.

The expansion will add 12,000 square feet of space to the facility, and includes renovations that will make it a more appealing and fun workspace for employees, in line with GoDaddy’s other modern facilities. The planned renovations include a new onsite fitness center, and space and equipment for games and relaxation.

The Hiawatha City Council took up a resolution yesterday recommending the GoDaddy expansion project’s application for state financial assistance. Subject to approval of this application by the IEDA Board at its next meeting tomorrow, GoDaddy will begin the renovation and expansion work right away.

GoDaddy opened the Hiawatha facility in 2010, and already has around 700 employees there. This expansion is good news not just for Hiawatha, but also for Cedar Rapids economic development.

The company plans to create up to 130 new jobs in Hiawatha over the next five years. Meanwhile, they will temporarily shift 130 jobs from Hiawatha to the Armstrong Centre in downtown Cedar Rapids for a year while the construction and renovation work is in progress.

Apart from the GoDaddy.com expansion, the IEDA Board will also consider an application for financial assistance from food service distribution company Braunger Foods, LLC. The company is considering expanding and relocating its office and warehouse operations to a bigger facility in Sioux City, IA.

Wells Enterprises, Inc. is seeking state incentives for a $19.3 million expansion and modernization project for its South Ice Cream Plant in Le Mars, IA. The Le Mars City Council has already approved a resolution approving a tax abatement for this project and recommending the IEDA should approve state tax incentives for it under the High Quality Jobs Program (HQJP) job creation tax credit program.

The IEDA agenda also includes an application from East Penn Manufacturing Co. for a $66.8 million investment to expand its operations in the City of Oelwein, IA.

Other projects under consideration for state financial assistance including a 3M investment plan at its factory in Knoxville, IA; Cambridge Technologies, LLC in Sioux Center, IA; GAR-MRO Services, Inc. and Shojaat Properties, Inc. in West Des Moines; Krause Holdings, Inc. in Des Moines; and Xpanxion, LLC in Ames, IA.

Indiana Economic Development Incentives Support NextGear Capital Expansion in Carmel, IN

NextGear Capital Inc., which provides automotive financial services for auto dealers, announced plans for yet another expansion of its operations in Carmel, IN.

NextGear Capital

NextGear Capital (photo – nextgearcapital.com)

With the help of state incentives and Carmel economic development support, the company plans to make investments exceeding $50.88 million to lease and renovate its corporate offices in Carmel and upgrade its technology infrastructure and software.

As part of the expansion, NextGear Capital will add up to 200 new jobs in Carmel by 2018. This is their second major expansion in Carmel following their move to a new and expanded headquarters location in Carmel last year. As part of that expansion, NextGear Capital had committed to creating up to 169 new jobs, but has already far exceeded those plans and now has more than 430 existing Indiana-based associates.

Governor Mike Pence said in a release that “Indiana stands out as a regional leader for job growth, and companies like NextGear Capital repeatedly choose Indiana as a home for their expansions because of our pro-growth policies and low-regulation business environment.”

Brian Geitner, president of NextGear Capital, said in the release that NextGear Capital’s success can be attributed to their talented workforce, both in Indiana and across the country, who work diligently every day to ensure their customers’ needs are met and embody the work ethic and family values that Indiana is known for.

In order to secure the project, the Indiana Economic Development Corporation has offered NextGear Capital Inc. up to $1,600,000 in conditional tax credits, along with up to $85,000 in training grants tied to the company’s job creation plans. The City of Carmel is also providing economic development support for the project.

Carmel Mayor Jim Brainard said in the release that they were thrilled last year when NextGear Capital moved into its new corporate headquarters in Carmel, which they took as a reflection of the strong high-tech business community they enjoy.

Mayor Brainard added that NextGear Capital has been one of Indiana’s true technology success stories and this news of another expansion in its workforce is great news for Carmel and all of central Indiana.

NextGear Capital, which is a part of Cox Automotive, serves more than 20,000 automotive dealers across the United States, Canada and the United Kingdom. Originating more than $13 billion in dealer inventory financing last year, NextGear Capital has become a global leader in inventory finance for independent auto dealers.

California Governor’s Office of Business and Economic Development Awards $2M in Grants to 41 SBDCs

The California Governor’s Office of Business and Economic Development (GO-Biz) announced that 41 Small Business Development Centers in the state have been awarded $2 million in matching grants to support their efforts at providing one-on-one, no-cost consulting to small businesses.

California SBDC

California SBDC (photo – californiasbdc.org)

The grant funding is being provided under the Capital Infusion Program, established as a one-time grant for the California SBDC Network last year, and subsequently renewed this year in the state budget signed by Governor Brown.

Local SBDCs provide comprehensive and expert guidance on small business issues ranging from start-up basics to financing, business and marketing plan development, procurement and government contracting. The One-on-one advising component is funded by the U.S. Small Business Administration and local partners, and is offered at no cost to SBDC clients.

GO-Biz Small Business Advocate Jesse Torres said in a release announcing this new round of SBDC grant funding that “The funding provided by GO-Biz significantly expands the number of advisors and consulting hours that SBDCs are able to provide to small businesses and, in turn, enables those companies to secure the capital and one-on-one coaching they need to grow and add jobs.”

Go-Biz grant awards to the SBDCs are matched on a one-to-one basis by federal funds. The program will now be able to operate for another year, with metrics reported on a quarterly basis.

The metrics from last year show that California small businesses experienced substantial growth opportunities due to increased financing, which in turn is at least partially credited to the $2 million in grant funding that was provided to the California SBDC Network.

California SBDC State Chair Kristin Johnson said in the release that the California Small Business Development Centers provided assistance to more than 60,000 small businesses last year and helped their clients access an unprecedented $535.5 million in capital to start and grow.

This $535 million in loans and equity investments last year amounts to a massive 56 percent increase in capital infusion over the prior year.

Through its 42 centers and more than 100 outreach locations, the California SBDC provided free on-on-one consulting and low-cost workshops to 60,000 small businesses last year, including over 78,000 hours of free consulting and 2,515 workshops across the state.

The California economic development impact attributed to the SBDC Network is significant, and includes the creation and retention of 8,624 jobs last year, along with the launch of 920 new businesses and sales increases of nearly $344 million by existing businesses.

SBA Region 9 Regional Administrator Donna Davis said in a release that the SBA’s ongoing commitment to small business and entrepreneurial development not only provides enhanced technical assistance service to the 3.6 million small businesses in California, but also promotes economic development and job growth.

GE Appliances to Invest $100M in Louisville, KY For Laundry Launch

GE (NYSE: GE) announced its largest laundry launch in the last 20 years in the form of a new investment of more than $100 million for a topload washer design and expanded manufacturing capability at its laundry plant in Louisville, KY.

GE Appliance Park billboard in Louisville, KY

GE Appliance Park billboard in Louisville, KY (photo – genewscenter.com)

Peter Pepe, general manager for clothes care at GE Appliances, said in a release announcing the investment that the traditional topload washer still accounts for 75 percent of washer sales and remains the most popular style of washer in the U.S. today.

The new topload washer platform in Louisville will strengthen the company’s core laundry line and meets new energy standards, offering water flexibility while maintaining energy efficiency standards.

GE Appliances has been steadily ramping up its investment into manufacturing capabilities in Louisville’s Appliance Park over the last five years as part of a $1 billion investment plan. This includes a new $38 million manufacturing plant, a $250 million bottom-freezer refrigeration factory, and two new assembly lines costing over $100 million that began producing high-efficiency frontload washing machines and dryers a couple of years ago.

The series of large investments by GE Appliances over the past few years has been one of the key drivers of Louisville economic development. The Appliance Park, which is large enough to have its own zip code, covers more than 900 acres. GE Appliances has more than 6,000 employees in Louisville with a payroll of $340 million, of which 3,700 are hourly manufacturing jobs.

It’s not just about jobs and investments either, because GE Appliances is also bringing cutting-edge technology and manufacturing processes to Louisville and partnering with educational institutions in the region to produce a highly skilled and experienced pool of talent.

The GE Appliances laundry factory, for example, has been redesigned using lean manufacturing principles that make the revamped manufacturing space one of GE Appliances most efficient plants. The plant has improved flexibility and productivity by implementing pattern scheduling to produce a richer mix of models.

Michael Land, quality leader for the program, explains by providing a jelly beans analogy. “Instead of having to make 500 blue jelly beans and then 500 of green, our new process allows us to make two green, one red, two blue and so on, so we can quickly and efficiently respond to customer demand with the washer model they need,” says Land.

Pepe added that the focus on manufacturing capability is paying dividends, and their laundry team is performing very well, with the factory ramp-up of the new washer line ahead of schedule thanks to the successful execution by the factory’s salaried and hourly employees.

Louisville, KY-based GE Appliances is a $5 billion business that employs 12,000 people, including about 7,400 in Kentucky.

Paylocity Seeks Lake Mary, Seminole County Economic Development Incentives for Expansion

Paylocity Corporation, which provides cloud-based payroll and human capital management software solutions, is considering locations for an expansion.

Paylocity

Paylocity (photo – paylocity.com)

One of the sites in consideration for the project is their existing Lake Mary, FL facility where the company already has 150 employees.

If Paylocity goes ahead with the expansion in Florida, they would be investing $1 million to lease and equip another 35,000 square feet of space to their operations in the Primera Office Park in Lake Mary, resulting in a total of 61,000 square feet of leased space at this location.

The expansion would also result in the creation of 176 new jobs for Lake Mary and Seminole County. These will be jobs with an average annual salary of $47,000, which is 115 percent of the Seminole County annual average wage of $40,763.

In addition to the Orlando region, the company is also considering its headquarters in Arlington Heights, IL for the job creation project. Paylocity Corp. also has existing facilities in New York City and Oakland, CA.

In its application for incentives, the company says that all factors that affect cost and quality will be critical to their final site selection decision. They also say that they are looking for a strong labor force and competitive business environment at a lower cost.

Specifically, they are looking for an “abundance of tech workers and other skilled professionals in a market that is affordable.” The potential for a partnership with a university or four-year college is also a strong consideration.

In order to secure the project, the State of Florida, Seminole County and City of Lake Mary are considering approving incentives including a $5,000 tax refund per net new, full-time job. This would be provided through the Qualified Target Industry (QTI) Tax Refund incentive program for companies that create high wage jobs in targeted, high value-added industries.

If approved, the total QTI tax refund available to Paylocity would be equal to $880,000 for the creation of 176 jobs. This includes a 20 percent local match of $176,000 from Seminole County and the City of Lake Mary. The City Council has already authorized a resolution committing $88,000 in Lake Mary economic development incentives for the project.

The Seminole County Board of County Commissioners will be meeting later this month to consider a similar resolution recommending approval of Paylocity Corporation as a QTI business and committing financial support to the tune of $88,000, which is the county’s share of the local QTI match.

If Paylocity selects Lake Mary for the project and is approved to receive these incentives, it will be the company’s second job growth incentive award at this location. Three years ago, the County and City awarded Paylocity a local Jobs Growth Incentive (JGI) Award of $166,000 for the creation of 83 new jobs in Lake Mary.

That turned out to be a smart and timely economic development investment, because Paylocity Corporation (NASDAQ: PCTY) not only exceeded its job creation goals, but also quickly went public after that with an IPO that successfully raised more than $82 million to fuel their further growth plans.

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