St. Pete OK's Package to Keep Jabil
Published: 03 July 2008
by Mike Buetow
ST. PETERSBURG, FL – St. Petersburg officials have approved almost $35 million worth of tax incentives to keep Jabil Circuit headquartered here, a local paper reported today.
Under terms of the deal, the state of Florida would pay $20 million, the city $12.7 million and Pinellas county $1.7 million in a combination of grants, tax refunds and infrastructure upgrades, the St. Petersburg Times reported.
For its part, Jabil must hire 858 new workers at an average annual salary of $42,685 a year, and build a new $49 million campus.
The deal is now in the hands of the state, which has 90 days to approve it.
Jabil employs almost 1,900 workers in St. Petersburg, and city officials appeared determined not to let the company relocate.
Local officials apparently put the package together and approved it without disclosing the name of the company to the public. Indeed, some council members said they weren’t clued in, the paper reported. "When I voted on it I didn't even know who it was. I thought it was Raytheon at first," council member Karl Nurse told the Times. She added the wages were what made her “comfortable” with the deal.
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