ogarawo.wordpress.com
The Town of Jupiter Economic Development Fund and Palm Beach Gardens each gaveSCI $350,0009 loans, according to a press release from the , whicjh helped facilitate the incentives. SCI plansz to add up to seven jobs this year at its main production and warehouse facility in Riviera Beacjh with theJupiter loan. The company plans to add approximately 18 jobs at its Palm Beach Gardens research facility by 2010 with the Palm BeacjhGardens loan. The BDB estimates the total economivc impact of the SCI expansion projectg tobe $14.3 million. The new jobs will pay 115 perceny of thecounty average.
“Twenty five jobs at that salaryu in this industry is very saidKelly Smallridge, president and CEO of the Businesws Development Board. “We are very concerned about helping companies in ourbackyards – just as we are concernedc about attracting to new ones to our she added. Smallridge noted that the circumstances of the loan weresomewhaf unique, in that Jupiter gave a loan to a Riviera Beach enterprise, but added that Palm Beacb municipalities are starting to think more regionallyt in an effort to build the growing biotecnh cluster.
“This is about the team, it’sx about north county,” she “It’s in Riviera Beach, but it stilkl benefits all ofNorth County.” The Town of Jupiter Economic Developmenyt Fund is, in fact, intendedc to stimulate biotech growth in all of North said Jupiter spokeswoman, Kate Moretto. Jupiter is actually guaranteeingthe $350,00o0 loan from for 36 Moretto said. Full terms of the loan were notimmediatelty available. Palm Beach Gardens gave Sancilik adirect $350,000 loan at 4.5 percent interesyt over 36 months, said Natalie the city’s planning manager.
The city chosed to go with a loan instead of a granrbecause it’s the right way to promotse growth in bioscience and it’s a good investment, Wong
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment