County approves 2 HQ incentives
The Palm Beach County Commission on Tuesday approved incentives for an undisclosed company to move its headquarters from San Diego to Palm Beach Gardens.
Separately, the commission approved incentives for a potential regional headquarters of another manufacturer, also undisclosed.
The California company project, dubbed “Project Bruin,” promises to create 178 jobs within four years at an average annual wage of $83,000, excluding benefits, and to retain 473 existing jobs.
The company has been awarded $1 million from the governor’s Quick Action Closing Fund, which would come with a local match of $350,000 requested from the city of Palm Beach Gardens and $250,000 from the county in the form of a job growth incentive grant.
The economic impact from the project is estimated at $772 million over five years, the county said.
The company’s name will be disclosed after it enters into a formal agreement
with the state, the county said.
The regional headquarters project, dubbed “Project Fan,” would create 25 jobs at an average annual wage of $48,813. Commissioners approved a $15,000 matching grant to the state’s $75,000 in tax refund incentives.
The manufacturer would make a $1.74 million capital investment in Palm Beach County, the county said. The economic impact of the regional headquarters is estimated at $55.7 million during five years.