Tru Simulation + Training constructed a 30,000 square foot addition to their existing property located on Northpointe Parkway near the intersection of State Road 54 and the Suncoast Expressway.
In January of 2017, Pasco County Board approved an Economic Incentive Agreement with Tru Simulation which included incentives for creating 100 new jobs at 115% of the Pasco County Average Annual Wage ($34,385 in 2016) and an Optional Loan for Building Expansion Opens a New Window. . Tru Simulation did not make a request to utilize the optional loan payment.
Board Approved Action: PMA17-142
Description: On Feb 7, 2017 the BCC accepted Performance Guarantee Surety Bond #106478552 in the amount of $16,469 along with the applicable riders/amendments, to guarantee construction of Right-of-Way improvements. The developer’s engineer has certified that the improvements have been constructed in accordance with the approved plans and specifications. The developer is requesting the BCC release the Performance Guarantee Surety Bond #106478552.
Board Approved Action: OEG17-008
Description: Tru Sim intends to construct a 30,000 square foot addition to their existing property. In addition to the previous approved action (OEG16-125) the JEOTF may provide a loan in the amount of $800,000, within two years of this agreement, and must be executed with a separate loan agreement.
Payment: 3/28/2017 $477,000 marks the completion of all expansion permits
Board Approved Action: OEG16-125
Description: State QTI match for the creation of 100 new jobs in a targeted industry within Pasco County: 100 new jobs at 115% of Pasco County’s Average Annual Wage (PCAAW) of 2016 ($34,385)
Payment: FY2017 $100,000
Then, the projected economic benefits to Pasco were the direct employment of 161 new employees and $30 million in annual sales. These new jobs were expected to bring a cumulative annual wage of $18.5 million. In addition, the induced effects of the project were estimated at 321 additional jobs in Pasco County. Combined, all of these jobs would generate an average of $47.7 million annually in Gross County Product (GCP).