An unnamed manufacturer operating in Escambia County has plans for a $100 million expansion that includes creating what they say will be 300 good-paying jobs.
Escambia County Commissioners granted the mystery company’s request to adopt an ordinance for an Economic Development Ad Valorem Tax Exemption (EDATE)—the first step in a process that doesn’t guarantee it will be granted.
During the board meeting on April 1, commissioners signed off on County Administrator Wes Moreno’s request to support an EDATE for the prospective company, identified only as “Project Leopard.”
According to county staff the company is proposing an expansion of an existing advanced manufacturing operation in Escambia.
The county says Project Leopard is projected to create 300 new full-time equivalent jobs, with an average annual wage of $75,834.
“That’s close to 35% above our current average,” FloridaWest Economic Development Alliance CEO Chris Platé said before the vote. “It is important to understand our community has been in competition for this project with the state of New York and the country of Poland and other facilities where it’s within the company’s footprint, so incentives are an important factor as we look to move forward with this location decision.”
The company is also proposing $100 million in capital investment, including building improvements and production equipment, with the project tied to an estimated 120,000-square-foot manufacturing footprint.
Platé said they hope to reveal the name of the company by the end of the month, and added the manufacturer has shown “meaningful support” of the community through philanthropic initiatives.
The company must still apply for the EDATE and if the application is approved the Escambia Property Appraiser’s Office will estimate the loss of revenue.
This article originally appeared on Pensacola News Journal: Mystery company seeks Escambia tax break for $100 million expansion
Reporting by Mollye Barrows, Pensacola News Journal / Pensacola News Journal
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