HomeMy WebLinkAbout18-132RESOLUTION 18-132
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF ST. LUCIE COUNTY APPROVING CERTAIN INCENTIVES ON
BEHALF OF ACCEL INTERNATIONAL HOLDINGS, INC.
WHEREAS, the Board of County Commissioners of St. Lucie County, Florida, has made the following
determinations:
1. Accel International Holdings, Inc., ("Accel"), is a global leader in the manufacture and
distribution of high performance conductors, one of St. Lucie County's targeted industries.
2. In addition to a generous benefits package, Accel's average earnings per worker is well above
the average earnings for St. Lucie County.
3. Accel has identified vacant land for potential construction of a new manufacturing facility in the
City of Port St. Lucie.
4. The project will include approximately 150,000 square feet of new manufacturing,
warehouse/distribution and office space and the creation of 125 new jobs.
5. St. Lucie County is offering a collaborative incentive package to Accel in partnership with the
City of Port St. Lucie for the benefit of the residents of St. Lucie County.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of St. Lucie
County, Florida, that in consideration of the benefits gained by the residents of St. Lucie County
through the development of Accel International Holdings, Inc.'s new facility, the following incentives
are offered:
A. St. Lucie County Job Growth Incentive Grant (JGIG) — The Board authorizes County staff to
prepare a JGIG agreement with Accel for the creation of 125 new jobs pursuant to the Job
Growth Investment Grant guidelines. The twenty percent (20%) local financial match
requirement for the State of Florida's Qualified Target Industry Tax Refund will come from the
JGIG program. Any residual JGIG funds the company is eligible to receive will be provided as
authorized by the Board.
B. St. Lucie County Ad -Valorem Tax Exemption on New Real Property and Tangible Personal
Property: The Board authorizes County staff to assist Accel in the application for a 10 -year ad
valorem tax exemption as described in the County's Economic Development Ad Valorem Tax
Exemptions program. The exemption is valued at 100% each year for the first five years and
for the last five years on a declining percentage schedule for the remaining period (90%-
80%60%-$40%-20%) for consideration by the Board in accordance with Section 42-46, St.
Lucie County Code of Ordinances and Compiled Laws.
C. After motion and second, the vote on this Resolution was as follows:
Commissioner Frannie Hutchinson, Chair AYE
Commissioner Linda Bartz, Vice Chair AYE
Commissioner Chris Dzadovsky AYE
Commissioner Anthony Bonna AYE
Commissioner Cathy Townsend AYE
PASSED AND DULY ADOPTED this 24th of July 2018.
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