Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Companies' tax incentive requests project 200 jobs in Hernando

BROOKSVILLE — Two biomedical companies looking at Hernando County could bring more than 200 new jobs with higher-than-average wages.

On Tuesday, the Hernando County Commission will decide whether the two businesses meet the criteria to receive incentives through the state's Qualified Target Industry Tax Refund and High Impact Bonus. Those incentives are based on a company creating high-wage jobs in industries listed as "value added" in state law.

Because the two companies have requested confidentiality, the county is identifying them only by code names. The state must approve the companies for the incentives, and then, if they close deals in the county, their identities would be revealed.

The larger of the two projects, "Project Mountain," involves a leading research, development and manufacturing firm that produces medical devices and products. The company has decided to expand its business to include a manufacturing facility that officials want to build in Hernando County, according to material prepared for Tuesday's commission meeting.

The company's plan is to purchase 28 acres and construct a 100,000-square-foot facility costing more than $5.8 million, including equipment and furnishings. A minimum of 150 jobs with an average annual wage of $40,600 are planned. The company also provides an employee benefits package valued at more than $9,000.

The county's local match for the state incentives would be $150,000 over four years and would be based on annual documentation of job creation, job retention and wages.

The second company is referred to as "Project Asterisk," and it is a life sciences/biotechnology research and development manufacturer. The company wants to purchase an existing facility and land in Hernando County, according to materials.

The company intends to renovate the existing structure, spending more than $30 million, and create at least 55 jobs over three years. The average wage is expected to be $37,748, with a benefits package totaling more than $11,000.

The county's match for Project Asterisk would be $55,000.

The same company got County Commission approval for incentives last year, but that approval has expired, said Valerie Pianta, the county's economic development supervisor.

Companies' tax incentive requests project 200 jobs in Hernando 08/05/14 [Last modified: Tuesday, August 5, 2014 8:11pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Nearly 1 in 4 Tampa Bay homeowners considered equity rich

    Real Estate

    If your home is worth at least 50 percent more than you owe, you're rich — equity rich that is.

    About one in four Tampa Bay homeowners are considered "equity rich." [Associated Press file photo]
  2. Trump strategist Steve Bannon: No military solution in North Korea

    National

    BRIDGEWATER, N.J. — President Donald Trump's chief strategist Steve Bannon says there's no military solution to the threat posed by North Korea and its nuclear ambitions, despite the president's recent pledge to answer further aggression with "fire and fury."

    Steve Bannon, chief White House strategist to President Donald Trump, has drawn fire from some of Trump's closest advisers. [Associated Press]
  3. Rays have their chances, but end up with another loss (w/video)

    The Heater

    TORONTO — The litany of games the Rays have given away this season is long enough, arguably too lengthy. So the only way to get to the postseason is make up for some of those losses by grabbing some wins when the opportunity is presented, especially at this time of year when the margin is diminished and the stakes …

    Associated Press
  4. Dunedin man accused of possessing child pornography

    Crime

    DUNEDIN — A 57-year-old man was arrested Wednesday, accused of intentionally downloading child pornography, the Pinellas County Sheriff's Office said.

    Richard Beal Anger, 57, of Dunedin faces 11 counts of possession of child pornography. [Courtesy of the Pinellas County Sheriff's Office]
  5. Pence cuts short Latin America trip and pressures Chile to sever all ties to North Korea

    Politics

    SANTIAGO, Chile — Vice President Mike Pence is cutting short his Latin America trip by one day to return to Washington for a strategy meeting Friday at Camp David with President Donald Trump and the national security team.

    Vice President Mike Pence urged Chilean President Michelle Bachelet to take a tougher stand against North Korea on Wednesday in Santiago, Chile.