Job Creation

Green Racing Sail Boat Maker Seeks Brevard Economic Development Incentives For Titusville Expansion

Falcon Marine LLC, a manufacturer of state-of-the-art environment-friendly performance racing sail boats, is considering an expansion of its operations in Titusville, FL.

Falcon Marine

Falcon Marine (photo – falconmarinellc.com)

At a meeting on Tuesday, the Brevard County Board of County Commissioners will consider adopting an Ad Valorem exemption resolution that qualifies “Project Flotilla” as an eligible business under the County Tax Abatement program.

Falcon Marine relocated from Port Canaveral to its present location in Titusville in Dec 2014. Supported by Brevard County economic development incentives, the company is considering making another $2.9 million in capital investments, including new equipment of approximately $2.3 million and $600,000 in construction and building modifications.

Falcon Marine specializes in the development of manufacturing processes and procedures for the production of composite products. Falcon is an ISO 9001: 2008 certified company, and the composite manufacturing processes the company uses are environmentally-friendly, focusing on a variety of closed molding techniques.

Until recently, Falcon was a premier manufacturer of private label products for the industrial, marine, entertainment, transportation and aviation markets. The company has now started producing its own brand of products, starting with the Falcon, a state of the art performance racing catamaran. The Falcon is expected to be a spring board for the company’s product line of “green” performance craft.

As part of the expansion, Falcon plans to create 65 new full-time jobs over the next three years, which represents a 600 percent increase in their overall employment. These will be jobs with an average annual wage of $44,500, adding up to a direct annual average payroll of $3,307,800.

An economic impact analysis of the project by the Economic Development Commission of Florida’s Space Coast shows that it will support the creation of an additional 46 indirect and induced jobs, adding up to a total of 111 new jobs for the region.

For every job created by Falcon, another 0.71 additional jobs will be created to support the facility. Every payroll dollar paid to the new positions created will generate approximately $0.66 for consumer spending. The net new wages generated for the county will add up to nearly $4.8 million, and the county stands to gain nearly $20,000 in new annual construction and personal property revenues, even after factoring in the tax abatement.

The North Brevard Economic Development Zone (NBEDZ) is also considering approving additional local incentives in the form of a grant to support Project Flotilla.

Durham, NC Considers Economic Development Incentives For Mobile App Development Company

At a meeting on Monday, the City Council of Durham, NC will consider authorizing the City Manager to negotiate economic development incentive agreements with two companies.

Willow Tree Apps

Willow Tree Apps (photo – willowtreeapps.com)

One of these agreements is for “Project Cavalier,” described as one of largest US mobile application development companies, based in Charlottesville, VA.

The company is considering an expansion of its operations with the creation of 98 new jobs with an average annual salary of $84,118, with full benefits.

Apart from an expansion at one of their existing offices in Charlottesville or Durham, Project Cavalier is also considering the possibility of opening a new office in Atlanta, GA or in Denver or Boulder, CO. Willow Tree Apps also has an office in New York City.

A memo to the Durham City Council notes that the company, which was founded in 2007 and currently has 102 employees in the Charlottesville, VA office, has signed several large clients in recent months and needs to accelerate the growth of its team. The location they select for the expansion would grow over the next several years into an office of similar size as their Charlottesville, VA operations.

The description of a Charlottesville, VA-based mobile app development company founded in 2007 with an existing office in Durham fits Willow Tree Apps. The company has been named for the fourth year in a row on the Inc. 5000 list of America’s fastest-growing private companies. Their major clients include, among others, HBO, Johnson & Johnson, GE, Turner Sports, Fox News, Harvard Business Publishing, PepsiCo, American Red Cross, and McDonalds.

In order to secure this important project, North Carolina is considering state economic development incentives including $200,000 through the One North Carolina Fund, and $184,800 for customized training through the North Carolina Community College System.

City of Durham economic development incentives offered for Project Cavalier include up to $73,500 for job creation, at $750 per job. Additional local assistance provided may include on-the-Job Training funds and use of NC Works Career Center system for recruitment.

Apart from the Willow Tree Apps expansion, the Durham City Council will also consider authorizing the City Manager to negotiate an economic development incentive agreement for another tech job creation project named as “Project Ironman.”

The company is described as offering broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings and more, and currently operates in 27 states and has over 15,000 employees based entirely in the United States.

Project Ironman is considering sites for a customer support center with a capital investment of $4.3 million and the creation of 150 jobs. Apart from Durham and North Carolina, they are also considering other sites in South Carolina, Texas, Florida and Utah.

The State of North Carolina is considering incentives for this project in the form of a Job Development Investment Grant (JDIG). The Durham Office of Economic and Workforce Development has recommended local incentives totaling $64,500 for this project, at $430 per job.

Home Security Startup Canary to Expand NYC Headquarters

Home security startup Canary has announced plans to expand its New York City headquarters to accommodate its rapid growth.

Canary

Canary (photo – canary.is)

Supported by $4.5 million in tax incentives approved by lead New York economic development agency Empire State Development, the company will create 193 new jobs, retain 91 existing jobs and expand its Chelsea headquarters operations to occupy a total of 41,000 square feet of office space.

Canary is a single device that functions as a complete home security system connected to the ‘Internet of Things.’ Whenever it detects something out of the ordinary, Canary sends notifications with HD video and audio directly to users’ smartphones. Users can then review the recorded video and take appropriate action.

Canary was founded in 2013 and quickly shot to fame as one of the most successful crowdfunding campaigns in history, raising nearly $2 million from 7,460 backers on Indiegogo. Just three months after its retail launch earlier this year, the device was being used daily in 117 countries.

In order to sustain this growth curve, the company raised $30 million in Series B funding in June. This funding, and the new positions being created, will help the company accommodate its rapid growth at the new headquarters. The space will also house Canary’s research and development center.

Canary Co-founder and CEO Adam Sager said in a release that “Canary was born and designed right here in New York City, so maintaining our headquarters and continuing to grow our presence in Manhattan was very important to us.”

“This city is filled with energy, talent and passion, and there’s nowhere else we’d rather be,” added Sager.

That said, Canary did consider other locations outside the state during the site selection process, before deciding to stay and grow in New York. In order to encourage Canary to expand in the state, ESD has offered the company up to $4.2 million in performance-based Excelsior Jobs Program tax credits.

To qualify for the incentives, Canary will need to go through with its plans to invest millions in infrastructure, research, and development, and create at least 193 new full-time jobs over the next 10 years. Canary will also retain its existing 91 jobs in the state.

Empire State Development President, CEO, and Commissioner Howard Zemsky said in the release that “Canary will bring jobs that are perfectly suited for New York’s large and growing community of developers and computer programmers.”

General Electric Seeks West Burlington, Iowa Economic Development Incentives

At a meeting later today, the Board of the Iowa Economic Development Authority will consider applications for state assistance from four projects.

GE

GE (photo – Momoneymoproblemz/wikimedia)

One of these applications is a proposed $5 million expansion by General Electric Company at its switchgear plant in West Burlington, IA.

The project is expected to create 114 full time positions with an average wage of $19 per hour, which is higher than the prevailing county average wage of $17.54 per hour.

This expansion follows a $1.3 million investment with 50 new jobs that GE announced last year to add new production lines at the West Burlington plant. In 2010, GE had announced plans to shut down the plant, but then changed its mind after labor negotiations resulted in the plant’s workers accepting wage concessions to keep the plant open.

At that time, state and local leaders helped convince GE by offering a package of incentives that included $2 million in state assistance and $400,000 from the cities of Burlington and West Burlington and Des Moines County.

The heavy investment of millions of dollars in state and local incentives not only averted the plant’s closure, but is now paying off with the company doubling down on its expansion plans and adding hundreds of new jobs with above-average wages.

GE did not seek incentives for the $1.3 million expansion last year, but is now seeking financial assistance from the State through the High Quality Jobs Program (HQJP) for this latest $5 million expansion. Subject to the IEDA approving this application, the City of West Burlington will be providing a 20 percent local match equivalent to $1,500 per job to be created.

The West Burlington economic development incentives will be provided as a five-year forgivable loan. GE would be required to repay the city for any jobs that are not created during the first three years or maintained over the last two years.

Another project on the IEDA board meeting agenda seeking HQJP tax incentives is an expansion by TrueNorth Insurance and Financial Strategies in Cedar Rapids, IA. The company has announced a $2 million expansion at its current headquarters location in downtown Cedar Rapids, along with the creation of 57 new jobs over the next three years.

The other two companies on the IEDA board meeting agenda seeking approval of state assistance are Ajinomoto Heartland, Inc. for a project in Eddyville, IA, and 8040 Holdings, Inc. for a project in Clive, IA.

New Jersey Considers Economic Development Incentives For Blue Anchor Eggo Plant

At its meeting, the Board of the New Jersey Economic Development Authority will consider approving Grow NJ tax incentives for nine projects.

Eggo

Eggo (photo – Don Nunn/flickr)

One of these projects is a proposed expansion by The Eggo Company at its manufacturing plant in Blue Anchor, NJ.

The Eggo Company is a part of the frozen foods division of the Kellogg Company, and one of their few plants that provide Eggo products for customers nationwide. The history of the plant dates back to 1959, when Eggo frozen waffles were first introduced in supermarkets by the Dorsa brothers. Other Eggo plants are located in San Jose, CA; Atlanta, GA; and Rossville, TN.

The Kellogg Co. acquired The Eggo Company in 1968, and turned it into an iconic product with the L’eggo my Eggo advertisements. Eggo controls around three-quarters of the frozen waffle market in the United States. An upgrade-related shutdown at the Blue Anchor Eggo plant would raise prospects of another Eggo shortage like the one in 2009 when the Tennessee plant was undergoing maintenance, and flooding shut down the Atlanta plant.

Kellogg’s has applied to the NJEDA for tax incentives under the Grow NJ program to support their expansion plan at the Blue Anchor plant. The project is eligible for bonus increases to the tax credit award due to the location of the plant as a targeted manufacturing industry in a distressed locality, , and the presence of on-site solar generation and other green practices.

The NJEDA will consider approving an estimated Grow NJ annual award of $944,000 for a 10-year term for The Eggo Company expansion, resulting in tax incentives of up to $9.44 million over this period.

The other projects that the NJEDA Board will be considering for approval of Grow NJ awards include:

GBT III US LLC – This is the Global Business Travel unit of American Express. GBT III US LLC is considering locating a project in Jersey City, NJ. To encourage the applicant to make an investment and locate in Jersey City, NJEDA will consider approving an estimated Grow NJ annual award of $1,827,500 for a 10-year term.

HelloFresh – The Berlin, Germany-based food service company, which delivers meals at home to customers all over the world, is considering an investment at two projects in Newark, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $1,197,338 for a 10-year term for the project located at 2 Gateway, and an estimated Grow NJ annual award of $2,512,904 for a 10-year term for the project located at 60 Lister Avenue.

FC USA Inc. – The company is considering making a capital investment for a project located in Montvale Borough, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $759,375 for a 10-year term.

Innocor, Inc. – The company is considering making a capital investment for a project located in Red Bank Borough, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $332,500 for an 8-year term.

NICE Systems, Inc. – The company is considering making a capital investment for a project located in Hoboken City, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $2,280,380 for a 10-year term.

SunGard Data Systems, Inc. – The company is considering making a capital investment for a project located in Jersey City, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $804,350 for a 10-year term.

Wayside Technology Group, Inc. – The company is considering making a capital investment for a project located in Oceanport Borough, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $261,000 for a 10-year term.

Single Source Plus Laundry – The company is considering making a capital investment for a project located in Camden City, NJ. NJEDA will consider approving an estimated Grow NJ annual award of $500,025 for a 10-year term.

JDIG, One NC Fund Grants Secure Ashley Furniture Expansion For Davie County

Ashley Furniture Industries, Inc. is once again expanding its manufacturing and distribution operations in Davie County, NC.

Ashley Furniture

Ashley Furniture (photo – Nicholas Eckhart/flickr)

Supported by a state Job Development Investment Grant and a One North Carolina Fund award, the company plans to create 454 new jobs and invest at least another $8.7 million at the site over the next four years.

Arcadia, WI-based Ashley Furniture is the largest manufacturer of residential furniture in North America, and one of the largest in the world. The company generated $3.85 billion in revenue last year, and employs a global workforce of more than 25,000 people.

Ashley first announced the selection of the Advance, NC site in 2012 for an $80 million facility with 550 jobs. The Ashley complex in Davie County already covers more than 2.8 million square feet of manufacturing and distribution space, providing faster delivery to the company’s customers in the Southeast. Ashley has far exceeded its investment and job creation commitments in the state, having created more than 1,100 jobs and invested more than $250 million.

Governor Pat McCrory said in a release that “Ashley continues to be an enormously successful company, and we’re proud that it has chosen North Carolina as the place to pursue its ambitious growth plans.”

For the initial project in 2012, North Carolina had offered the company a package of state incentives that included an award of up to $3.19 million over a 10-year period through the Job Development Investment Grant (JDIG) program, and a performance-based grant from the One North Carolina fund of up to $825,000.

At that time, the project also received a $2.5 million grant from the Golden LEAF Foundation. Davie County economic development support for the project included the former R.J. Reynolds Tobacco Co. site to establish the facility, along with infrastructure improvements and waivers of various permitting fees.

For this latest expansion, the company was again assisted by a range of state and local entities including NC Commerce, the Economic Development Partnership of North Carolina, the Davie County Economic Development Commission, the Davie County Board of Commissioners, the Golden LEAF Foundation, and Duke Energy.

North Carolina has once again awarded a JDIG that could add up to as much as $4.6 million in reimbursements for Ashley through to 2027. As per state law, another 15 percent of the award (up to $511,900) will go to the state’s Industrial Development Fund – Utility Account for financing economic development infrastructure projects in less populated Tier 1 and Tier 2 counties in the state.

The Ashley expansion project will also receive another performance-based grant of up to $829,500 from the One North Carolina fund.

Todd Wanek, Ashley’s President and CEO, said in the release that they are extremely pleased with the pro-business attitude of the State of North Carolina and the efforts of their entire team.

Italian Automotive Supplier Expands Operations in Sanford, NC

Magneti Marelli Powertrain USA LLC has announced plans to expand its Lee County, NC manufacturing plant located in the City of Sanford.

Magneti Marelli

Magneti Marelli (photo -cmonville/flickr)

Supported by a North Carolina economic development grant, the company will make a capital investment of $12 million over the next two years and expects to create 76 new jobs over the next three years.

In a release announcing the project, Governor Pat McCrory said that global firms like Magneti Marelli find that nothing compares to the can-do spirit of North Carolina workers. “All the ingredients they need are right here, allowing companies to reach new heights,” added Gov. McCrory.

In order to secure the project, NC Commerce and the Economic Development Partnership of North Carolina (EDPNC) worked in partnership with the Sanford Area Growth Alliance, Lee County, the City of Sanford, the NC Department of Revenue, the North Carolina Community College System, and Central Carolina Community College.

North Carolina has offered the company a performance-based grant of up to $225,000 under the One North Carolina Fund. The One NC Fund, which provides economic development funding for projects through local governments, is designed to attract business projects that will stimulate economic activity and create new jobs in the state. Companies do not receive any money up front, and are required to meet job creation and investment performance standards to qualify for grant funds.

NC Commerce Secretary John E. Skvarla III added that they welcome this additional investment from Magneti Marelli. “The company operates 89 manufacturing facilities throughout the world, so I’m gratified they recognize the value of their North Carolina operations,” said Sec. Skvarla.

The Sanford powertrain plant opened in 1976, and primarily manufactures fuel systems for cars, and also for motorcycles and other motor sport vehicles. This latest $12 million expansion with 76 new jobs builds on a $15 million investment the company made four years to add three new production lines and new high-tech machinery to the Sanford plant, along with 65 new jobs.

Magneti Marelli Powertrain, which designs, develops and manufactures engines and transmissions components for cars, motorbikes and light vehicles, is part of Corbetta, Italy-based Magneti Marelli S.p.A. The company’s North American headquarters is located in Auburn Hills, MI.

The Group has a presence in 19 countries, and supplies most of the important car makers in Europe, Asia, and South and North America. With more than 38,000 employees, their global operations encompass 89 production units, 12 R&D centers and 26 application centers.

Colorado Economic Development Incentives Secure DaVita Expansion in Denver

DaVita HealthCare Partners Inc. has announced plans to expand its footprint in downtown Denver by leasing space in a new office tower and adding hundreds of new jobs.

DaVita HealthCare Partners

Photo – davitahealthcarepartners.com

Supported by incentives approved last month by the Colorado Economic Development Commission, the company is leasing 265,000 square feet of space in the 16 Chestnut development in downtown Denver.

The 410,000-square-foot 16 Chestnut building is located directly across 16th Street from DaVita’s original headquarters building, thus creating an urban campus environment for the company in downtown Denver. Groundbreaking for the new building is scheduled for July next year.

The new space will allow for growth including 1,200 additional DaVita HealthCare Partners teammates in Denver. DaVita HealthCare Partners Chairman and CEO Kent J. Thiry said in a release that “When we moved to Denver, we were confident that we would find a place for our new corporate headquarters. What we underestimated was that we would find a community that aligns so well with our own values.”

DaVita HealthCare Partners Inc. (NYSE:DVA), an independent medical group and a leading provider of kidney care services, relocated from Los Angeles to Denver in 2010 and opened its headquarters building in 2012. At that time, the $101 million project was the first corporate build-to-suit headquarters to locate in the Denver central business district in the past 35 years.

Back in 2010, Colorado offered DaVita $5.3 million in state incentives to support the company’s headquarters relocation and investment project. Last month, the Colorado Economic Development Commission approved another $12.7 million for “Project Bronco II” under the Job Growth Incentive Tax Credit (JGITC) program for the company’s latest expansion project.

Colorado Governor John Hickenlooper said in the release that when you recruit a headquarters to your state, you do everything you can to ensure they’re successful and grow. “With DaVita, we also welcomed a devoted community partner,” added Gov. Hickenlooper. “Their support has benefited everything from our schools to business development to hundreds of charities and non-profits.”

Since relocating to Colorado, DaVita has become a key driver of Denver economic development, adding more than 1,500 local jobs and pumping millions into the local economy. The company now has more than 2, 420 employees in Colorado and over 62,000 overall.

DaVita is also one of the most admired corporate entities and employers in the region. In the last year alone, the company has been named on lists including the Denver Business Journal’s Healthiest Employer list; FORTUNE Magazine’s Most Admired Companies list; and Newsweek’s Top Green Company in the U.S. list.

Denver Mayor Michael B. Hancock added that “DaVita has played a key role in Lower Downtown’s resurgence as a vibrant hub for innovative businesses. This next chapter for DaVita and Denver is set to build on that momentum.”

The leasing entity and property owner of the 16 Chestnut building is East West Partners. Chris Frampton, managing partner at East West Partners, noted that DaVita truly put Denver on the map as a destination for business and corporate headquarters. Frampton added that “their commitment to downtown has had and will continue to have a significant impact.”

Miami-Dade Economic Development Incentives For Naeem Khan Headquarters Relocation

Later this week, the Economic Prosperity Committee of the Miami-Dade Board of County Commission will consider a resolution that facilitates approval and allocation of incentives for the Naeem Khan headquarters relocation project.

Miami-Dade Naeem Khan HQ project

Miami-Dade Naeem Khan HQ project (photo – miamidade.gov)

Fashion designer Naeem Khan is considering relocating his company NKMIA, LLC’s headquarters from NYC to Miami Dade.

Supported by Miami-Dade economic development incentives of up to $1.5 million under the Building Better Communities General Obligation Bond Program Project No. 124, the company will invest $9.6 million to establish a state-of-the-art manufacturing facility in a 30,000-square-foot studio space along the Miami River.

This facility will also serve as the headquarters of the Naeem Khan label. The company expects to bring 50 full-time jobs to Florida. These will be jobs with an average salary of $50,000.

The application to Miami-Dade County Commissioners notes that “Miami is the ideal location for the fashion industry – a climate allowing year-round production, substantially lower taxes and wages, and the region’s access to a South American population with a tradition of handiwork.”

The application also notes that the Naeem Khan project will be the first of its kind in Miami County, and the relocation of the label’s headquarters could be a stepping stone not just for high-end designers, but the entire fashion industry.

The new facility will also act as an incubator for the fashion industry, offering design studios readily available for use by other providers in the industry. The application also notes that the Miami economic development benefits do not stop at design and manufacturing. As designers relocate to Miami, it will open the door for the city to host an international fashion week.

The biennial Fashion Week brings in $900 million in revenue for NYC, where fashion is a $98 billion industry. Globally, fashion is a $1.2 trillion industry.

The Naeem Khan project may also support development of fashion-related training and education in the region. Meetings are already in place to create joint fashion programs with some of Miami’s largest universities and colleges.

Naeem Khan launched his eponymous collection in 2003, and began selling at Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue. The collection has since grown to be sold at more than 100 specialty stores around the world, and his celebrity fan base includes First Lady Michelle Obama, Beyonce, Taylor Swift, Katy Perry, Queen Noor of Jordan, and others. In 2008, Naeem Khan was inducted as a member of the Council of Fashion Designers of America.

Nestle Product Technology Center in Bridgewater, NJ Will Aid Economic Development

Nestle Health Science has officially announced the selection of Bridgewater, NJ as the site for a new Nestle Product Technology Center (NTPC).

Nestle

Nestle (photo – Dornum72/wikimedia)

Supported by Grow NJ incentives approved earlier this year by the New Jersey Economic Development Authority (NJEDA), the company plans to invest $70 million to establish the 180,000-square-foot facility to house the company’s U.S. headquarters and R&D operations.

The jobs at the new Center will include some 60 headquarter jobs currently located in the company’s existing headquarters in Florham Park, NJ. Nestle Health Science will also relocate some 100 jobs from out of state to the NTPC, including teams and operations of the company’s R&D Center in Minneapolis.

This new facility builds on the company’s presence in the Northeast, adding to the recently opened Novel Therapeutic Nutrition business offices in Cambridge, MA. Nestle Health Science CEO Greg Behar said in a release that the new facility will house the latest technologies and people in the field, uniting their R&D and business teams in a region with strong life-science activity.

“It will enhance and accelerate the quality and speed to market of Nestlé Health Science’s innovations that improve nutritional status and health outcomes,” added Behar.

New Jersey secured this project by offering Nestle HealthCare Nutrition, Inc. and Nestle Nutrition R&D Center Inc. tax credits under the Grow NJ program. The company stands to save up to $14.45 million in tax incentives over a 10-year period.

Apart from the $70 million investment, creation of new jobs for the state, and the retention of the company’s U.S. headquarters and existing jobs, the Nestle Health Science project has also been eagerly awaited by state officials as a prestigious project in a targeted industry which they can now cite to attract more companies and establish the area as a life sciences hub.

Nestle Health Science, a wholly-owned subsidiary of Nestle, is a global company headquartered in Epalinges, Switzerland. The company was initially founded on the HealthCare Nutrition business of Nestle Group, and already employs around 3,000 people worldwide.

The Bridgewater facility will be one of more than 30 Nestle Product Technology Centers around the world which have become key components of the research and development that drives Nestle’s growth as the world’s largest nutrition health and wellness company, with sales approaching $100 billion per year.

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