City of Port St. Lucie header
File #: 2024-910    Version: 1 Name:
Type: Resolution Status: Passed
File created: 8/29/2024 In control: City Council
On agenda: 9/23/2024 Final action: 9/23/2024
Title: Resolution 24-R73, a Resolution of the City Council of the City of Port St. Lucie Approving an Economic Development Incentive Package for Project Four PSL; Providing for Conflict; Providing for Severability; and Providing an Effective Date.
Attachments: 1. Project FOUR PSL - Executive Summary Sept. 2024.revised2.pdf, 2. Project Four PSL - City PPT.revised 9.13.24.pdf, 3. Incentive Resolution Project Four PSL
Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 24-R73, a Resolution of the City Council of the City of Port St. Lucie Approving an Economic Development Incentive Package for Project Four PSL; Providing for Conflict; Providing for Severability; and Providing an Effective Date.
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Submitted By: Elijah Wooten, Economic Development Administrator.

Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.

Executive Summary (General Business): Project Four PSL is a global manufacturer and distributor of metal and furniture grade fixtures for commercial, industrial, and institutional applications. The company will construct a 250,000 square foot manufacturing and distribution facility and create two hundred twenty-five (225) new full-time jobs paying an average wage of $52,374 plus benefits, which is above the average earnings for St. Lucie County.

Presentation Information: A brief presentation will be provided by Elijah Wooten (Economic Development Administrator) and Wes McCurry (Senior Vice President, Economic Development Council of St. Lucie County).

Staff Recommendation: Move that the Council approve the packet of economic incentives for Project Four PSL's relocation.

Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the packet of economic incentives for Project Four PSL's relocation.
2. Move that the Council not approve the packet of economic incentives for Project Four PSL's relocation and provide staff direction.

Background: Project Four PSL is a global manufacturer and distributor of metal and furniture grade fixtures for commercial, industrial, and institutional applications is a targeted industry. The company will make a capital investment of $33,500,000 in real property and $12,750,000 in tangible personal property. The company will create two hundred twenty-five (225) new full-time jobs paying an average wage of $51,657.46 plus benefits, which is...

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