Connect with us

Know

UK-based manufacturer considers $11.5M expansion in Pinellas County

Veronica Brezina

Published

on

Photo: Unsplash.

A United Kingdom-based manufacturer may make a major capital investment in Pinellas County and create new jobs. The unnamed company, identified as Project C1110944724 in Pinellas County documents, currently operates a 150,000-square-foot production facility in the county.

The company, which manufactures dietary supplements, is seeking a potential tax exemption for an $11.5 million expansion project as it would invest an estimated $6.5 million for equipment and $5 million costs for the construction and buildout for its expanded facility.

The expansion in Pinellas County would create 20 new positions that pay at an average wage of $38,000 per year, which meets the wage threshold for a facility located in a brownfield redevelopment area.

Pinellas County is focused on retaining manufacturers and helping them expand as manufacturing is one of the county’s top targeted industries. Today, there are a number of dietary supplement manufacturers in the county, including Nulab Inc., BL Bio Lab, Ion Labs and others.

The address of the brownfield site in Pinellas County the company currently operates at was not disclosed; however, the county documents state its local production facility incurs $178,752 in property tax liability per year. 

Pinellas County commissioners will review the company’s plans Tuesday to determine if it is a qualified applicant for an economic development ad valorem tax exemption. The total tax exemption amount will be based on the final assessed value of the real property improvements, which includes additions to tangible personal property and the exemption period, which is from one to 10 years.  

Although the company has an existing facility in the county, it is also competitively evaluating other sites in Minnesota and Montana for the expansion project, according to the public documents. 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

By posting a comment, I have read, understand and agree to the Posting Guidelines.

The St. Pete Catalyst

The Catalyst honors its name by aggregating & curating the sparks that propel the St Pete engine.  It is a modern news platform, powered by community sourced content and augmented with directed coverage.  Bring your news, your perspective and your spark to the St Pete Catalyst and take your seat at the table.

Email us: spark@stpetecatalyst.com

Subscribe for Free

Share with friend

Enter the details of the person you want to share this article with.