HomeMy WebLinkAbout25-047 RESOLUTION No. 2025-47
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF ST. LUCIE COUNTY APPROVING CERTAIN INCENTIVES ON
BEHALF OF PROJECT KNIGHT RIDER.
WHEREAS, the Board of County Commissioners of St. Lucie County, Florida, has
made the following determinations:
1. Project Knight Rider is a leading manufacturer of specialty vehicles founded in 2000 and
headquartered in Canada and is a targeted industry in St. Lucie County.
2. Project Knight Rider is a proven economic driver and is a respected company in the
security and manufacturing industry with 350 employees globally at two manufacturing facilities
in Canada, as well as multiple international sales offices, production facilities, and service centers.
3. Project Knight Rider is committed to investing in the economic wellbeing of St. Lucie
County by locating a new manufacturing facility in the community.
4. Project Knight Rider intends to renovate existing buildings totaling 59,332 square feet and
construct a new manufacturing building of 20,000 - 30,000 square feet and will invest
approximately $18.75 million in renovation and new construction capital investment and
approximately $19.4 million in tangible personal property by December 31, 2029.
5. Project Knight Rider intends to create 294 new full-time equivalent jobs (FTEs) paying an
average annual wage of at least 107% of St. Lucie County's average annual wage, in addition to
a generous benefits package to its employees. The employment schedule consists of 55 new
FTEs in Year 1; 51 new FTEs in Year 2; 69 new FTEs in Year 3; 61 new FTEs in Year 4; and 58
new FTEs in Year 5.
6. St. Lucie County is offering an incentive package to Project Knight Rider, in partnership
with the City of Fort Pierce, for the benefit of the residents of St. Lucie County, for continued
capital investment and the creation of new full-time and/or full-time equivalent jobs.
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 Project Knight Rider'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 Project Knight Rider for the
creation of 294 new FTEs over a five-year period pursuant to the Job Growth
Investment Grant guidelines.
B. St. Lucie County Ad-Valorem Tax Exemption on Real and Tangible Personal
Property: The Board authorizes County staff to assist 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
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at 100°/o 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. St. Lucie County Road Impact Fee Mitigation(IFM):The Board authorizes County
staff to prepare an Impact Fee Mitigation Agreement with and/or its subsidiaries
or successors for the creation of 294 new jobs pursuant to St. Lucie County's
Impact Fee Mitigation Program guidelines.
D. After motion and second, the vote on this Resolution was as follows:
After motion and second, the vote on this resolution was as follows:
Commissioner Jamie Fowler, Chair AYE
Commissioner Larry Leet, Vice Chair AYE
Commissioner James Clasby AYE
Commissioner Erin Lowry AYE
Commissioner Cathy Townsend AYE
PASSED AND DULY ADOPTED this 18th day of February, 2025.
ATTEST: GOMM/s,s BOARD OF COUNTY COMMISSIONERS
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