ST. PETERSBURG – The economy could sink not just Jabil's near-term growth, but also more than $30 million in tax rebates and other incentives tied to the EMS company’s new headquarters here.
 
Under a controversial deal agreed on earlier this year, Jabil must begin construction on a new, $50-million headquarters within a year and add about 860 jobs by 2012, according to reports. The company must also keep local employment above 1,800; it currently employs 1,872.

In return for meeting those marks, the EMS company is in line for incentives ranging from $14 million from St. Petersburg, plus an additional $24.4 million from the county and state. Jabil can petition the state for one-time delay of up to two years, according to reports.
 
According to the St. Petersburg Times today, Jabil reportedly told city officials it might fall short of the deal’s terms. The Times quoted Jabil senior VP of human resources Bill Peters as saying, “We are still very committed to the project. We just want to get our arms around where we are and where (the economy) bottoms out."
 
The deal came under fire when first word leaked, as some city officials said they were asked to approve the terms without first reviewing all the documents, and critics leveled accusations of corporate welfare for the $10 billion EMS firm.
 

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