County may reconsider business grant

 

County may reconsider business grant

 

Date: November 29, 2010
by: Robin Roy | City Editor

 
 

Twice since June, the Sarasota County Commission has approved economic-development grants to Tervis Tumbler Co., which has a large store in Osprey.

Those grants, totaling $450,000, were intended to help the company with an expansion. But the money was predicated on Tervis Tumbler using local contractors and the creation of 214 jobs with an average wage of $39,450.

The company committed to making a $10 million capital investment in the county.

Tervis Tumber has since informed the county that it was unable to use all local contractors because some of the services it needed were not provided locally. Furthermore, the company stated many of the higher-wage jobs already have been filled, so the average salary will be $31,500; and the $10 million was split evenly between expansion costs and new equipment.

As a result of the changes, county commissioners are expected to decide tomorrow whether to provide the company with the full $450,000 or a lesser amount.

To provide an economic-development boost, the county has committed to providing financial incentives to companies relocating to Sarasota County or existing firms that are expanding facilities and increasing jobs.

Contact Robin Roy at rroy@yourobserver.com.
 

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