Saturday, June 23, 2018
News Roundup

Tampa offers nearly $316K to attract two business expansions

TAMPA — The City Council on Thursday approved offering a total of $315,900 in economic development incentives to two companies that are considering moving to or expanding in Tampa.

Neither company was identified publicly because their names are exempt from disclosure under the state's public records law.

One is a "knowledge process outsourcing" company — that is, one that performs specialized research, analysis or information-gathering tasks for its clients — that serves the legal and financial services industries.

The company has offices in Baltimore and is considering expanding there, in Chicago or at an undisclosed site in downtown Tampa.

It is talking about creating 185 jobs by the end of 2015 and has committed to paying an average of at least $46,638 a year, or 115 percent of the state's annual average wage.

Tampa is agreeing to provide a maximum of $99,900 from 2014 to 2019. Hillsborough County would provide $11,100 and the state of Florida would kick in $444,000.

The second company already is in Hillsborough County and is considering an expansion that includes a corporate headquarters here or in Arkansas, New York or California.

It proposes to spend $3 million on a new facility and to create 200 jobs by the end of 2016. It has committed to paying an average of no less than $62,063 a year — a salary equal to 150 percent of Florida's average wage.

Depending on where the company locates in Tampa, the city will pay $120,000 to $216,000 between 2015 and 2019. (The city will pay more if the company opens new offices in one of Tampa's community redevelopment areas.)

As proposed, Hillsborough County would contribute $120,000 and the state of Florida would contribute $960,000 in cash incentives.

Richard Danielson can be reached at (813) 226-3403, [email protected] or @Danielson_Times on Twitter.

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