Economic Growth Projects Monthly Report
$3.088 million Florida Job Growth Grant has been awarded to the Office of Economic Growth Overpass Business Park project through the Florida Department of Economic opportunity! This award will be used to fund a significant portion of the cost required to convert the 100 acre former spray field into a shovel-ready site to support an Industrial/Office Business Park development totaling approximately 2.25 million square feet. Shovel – ready improvements include removing the existing RRIB wastewater treatment piping, adding water, sewer, and reclaimed water lines. Additionally, Old Pasco Roadway will receive improvements including widening and signalization. The additional funds required, in addition to the DEO grant, are included in the OEG budget.
Pall Aeropower Corporation (Pall) has been approved for the Job Creation Incentive award in the amount of $280,000. As an expanding certified Targeted Industry located on Ridge Road in New Port Richey, Pall, will create an additional fifty six (56) new, full-time, high paying jobs within the county. The average annual wage of these Pall new hires is expected to exceed 200% of the Pasco County average (at the time of application). The Office of Economic Growth is the contract custodian and will ensure demonstrated compliance and award payments are processed for the duration of four years.
The Jobs and Economic Opportunities Committee (JEOC) members David Key and Michael Mauger have been re-appointed to the committee for another two year term, expiring at the end of December, 2020. These two gentlemen have been members of the JEOC since its inception, each already serving one-year and two-year terms. The balance of the JEOC members are recent appointments and these individuals expressed great desire for Mr. Key and Mr. Mauger to remain on the committee to share their considerable experience with the team. The Office of Economic Growth has been a liaison to the JEOC to ensure the members have updates on the status of projects funding through the Jobs and Economic Opportunities Trust Fund (JEOTF) program including revenue and expenditures.