Tax break for a Lee County business
June 26, 2009
In a move to spark fiscal growth, the Lee County Office of Economic Development has been approved to provide tax incentives to area businesses.
And the agency’s first move, in conjunction with other government entities, will be to provide $600,000 in qualified tax incentives to Paramount Transportation Logistics Services, a Fort Myers-based supply chain and logistics company. Economic development officials project that the incentives will lead to the company hiring at least 100 more people.
The Economic Research Institute at Florida Gulf Coast University estimates that the incentives and projected hiring binge will result in a $13 million dollar economic impact for the area. The Lee County Office of Economic Development offers cash incentives based on the number of jobs a company will generate, just like several other economic development organization on the Gulf Coast.
Patient executive finally makes his move
Steve Marino, who closed on a $380,000 deal for the land last July, recently announced plans to build a two-building, 20,000-square-foot complex on the site, where he eventually hopes to employ at least 10 people. He hopes a glossy new showroom for appliances will be open by early 2011.
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News that $56.1 million in federal tax-exempt financing is available for Lee County businesses has generated considerable interest.
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