Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 21-R17, A resolution of the City Council of the City of Port St Lucie approving a packet of economic incentives for Project Ash; providing for conflicts; providing for severability; and providing an effective date.
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Submitted By: Elijah Wooten, Business Navigator, City Manager's Office
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): Project Ash was founded in 2004 and is headquartered in Israel. The company specializes in the design, manufacturing and marketing of transport products such as bodies for all truck types, tip trailers, hoist trailers, flatbed semi-trailers, containers and lowboys for transporting heavy equipment.
Presentation Information: A brief presentation will be provided by Elijah Wooten (Business Navigator) and Pete Tesch (President, Economic Development Council of St Lucie County).
Staff Recommendation: Move that the Council approve the packet of economic incentives for Project Ash's expansion.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the packet of economic incentives for Project Ash's expansion.
2. Move that the Council not approve the packet of economic incentives for Project Ash's expansion and provide staff direction.
Background: Project Ash's expansion includes the construction of a 43,000 square foot manufacturing facility (Phase 1) with a future expansion to 60,000 square feet in Phase 2. The company has selected Midway Business Park and the capital investment includes $2,000,000 in construction and $4,948,000 in machinery and equipment. The company will create 55 new jobs over a two-year period with an average wage of $20.47 including benefits which equates to 107% of St Lucie County's average wage. Twenty-five new jobs will created by the end of 2023 and 30 jobs will be created by the end of 2024.
Issues/Analysis:...
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