Two Projects to Bring 75 Jobs to Hernando
Hernando County commissioners have approved two incentive packages worth hundreds of thousands of dollars.
HERNANDO COUNTY – County commissioners on Tuesday (Feb. 13) unanimously approved two incentive packages that will bring 75 new jobs to Hernando County.
An $817,000 incentive package for a warehousing and logistics company will bring 60 new, full-time jobs within the next three years. The project is known as “Project Diamond” until all negotiations are final.
The second, a $30,000 incentive package for Interconnect Cable Technologies Corp., a local manufacturing business, will bring 15 jobs over the next three years.
All incentives are performance based and require annual documentation of new jobs and wages.
“These are good jobs for our community,” Hernando County Administrator Leonard Sossamon said. “If you are job searching, keep an eye out for when they come open; we encourage the companies to hire qualified Hernando County residents.”
Upon final contract approvals, Project Diamond officials have said they intend to invest approximately $22 million through the construction of a 200,000-square-foot, state-of-the-art facility on a 20-acre site at the Brooksville-Tampa Bay Regional Airport & Technology Center. The company’s 60 employees will have an average annual wage of $37,506.
These incentives will be payable over fiscal years 2020 through 2026 once Project Diamond’s performance measures are met and appropriate documentation is submitted:
- Job creation incentive of $3,000 per new job created with a maximum value of $180,000.
- Deferred building permit and impact fees: an estimated $92,000 in permit and review fees; an estimated $125,000 in impact fees.
According to county rules, the company will pay impact fees more than $50,000 and will submit for annual reimbursement.
- Land lease incentive of $420,000. County-paid land lease for a 60-month period and right of first refusal on the adjacent 20 acres of land.
- Rapid response permitting that includes a team of county staff to expedite the process.
ICTC is a full-service manufacturer of custom wire harnesses, cable assemblies, printed circuit board assemblies and electronic box build. It has been a tenant in good standing at the Brooksville-Tampa Bay Regional Airport & Technology Center since 1988.
The company intends to hire 15 new, full-time workers over a three-year period with an average annual wage of $32,614.
The following incentive will be payable over fiscal years 2019 through 2025: job creation incentive $2,000 per new job created with a maximum value of $30,000.
Photo shows a rendering of the building that Project Diamond intends to build at the Brooksville-Tampa Bay Regional Airport & Technology Center. Courtesy of Hernando County.
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