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Jabil Wins Incentive Plan, Will Cut 120 Jobs |
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Written by Mike Buetow
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Friday, 12 September 2008 |
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ST. PETERSBURG, FL – After a minor battle broke out over its secret deals with the local city council, Jabil Circuit appears to be in line for a host of incentives to remain here. The EMS company will keep its headquarters here and expand into a proposed facility, according to reports in local papers today.
In doing so, Jabil will build a new plant in the next year and hire 850 new employees over time, although the company will cut 120 jobs in the near-term as its grapples with lower demand from key customers, the Tampa Tribune reported.
Jabil currently employs 1,880 people at its headquarters and two plants in the St. Petersburg area.
Per the Tribune, the local and state governments granted Jabil as much as $38 million in incentives to stay put. The largest contributor will be the state itself, which pledged direct tax incentives of $20 million, the Tribune said. Pinellas County assented to $2.9 million in incentives with a job-creation grant and training support, while the city is offering tax-utility and job-creation incentives of $1.7 million. A total of $13 million more will be granted to improve the local infrastructure around the company's sites.
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