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    Sarasota, state offer $450K to reel in headquarters | Sarasota

    State and local officials have committed $450,000 in financial aid to a company considering Sarasota for a new headquarters.

    The County Commission last week approved another economic incentive package to lure a new business to the area.

    State and local officials have committed $450,000 in financial aid to a company considering Sarasota for a new headquarters.

    The business, “a supplier of superior rare-earth valuables,” according to a statement, will receive the $450,000 through the Qualified Targeted Industry Tax Refund, which includes a $90,000 local match.  The local match portion of the project, nicknamed Project George, will be paid over an eight-year period following last weeks approval from the Sarasota County Commission.

    The business behind Project George has committed to creating 75 full-time jobs with an average annual wage of at least $58,757, the statement says.  It recently acquired a Sarasota company with 38 employees and is considering consolidating its locations, the statement adds.

    The company was eligible for $4,000 per new job from the QTI program.  As a corporate headquarters within the designated “high impact sector”, it is eligible for an additional $2,000 per new job from the county.

    Earlier this year, officials committed more than $1 million to bring a national roofing company to Sarasota.  Local firms protested the funding of that project, called Project Mulligan, and Sarasota County Commissioners voted 4-1 to turn it down.

    Source: Sarasota, state offer $450K to reel in headquarters | Sarasota | Your Observer

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    DeAnna Greenhaw

    DeAnna is a Licensed Real Estate Agent and Oliver McConnell's new customer manager at our Sarasota Office. (941) 359-6529.

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