A major economic development project could bring more than 1,000 jobs and significant new investment to St. Lucie County.
Last Tuesday, Aug. 18, the St. Lucie County Board of County Commissioners approved a series of incentives intended to help move Project Orchid forward.
Ben Balcer, the county's director of Planning and Development Services, said the project would represent a significant addition to the local economy.
"As the board may recall, Project Orchid is an international manufacturer with its headquarters in Miami. The company manufactures architectural glass, windows, and aluminum systems for residential and commercial markets. The project is significant because of both its projected capital investment and overall job creation," he said.
The proposed facility would be located between I-95 and Orange Avenue and is expected to generate $53.8 million in annual payroll.
The company has also set a specific employment target for the project, with positions expected to pay above the county's average wage.
"The company has also committed to creating 1,005 new jobs over an eight-year period at an average wage of $28.48 per hour, and that is 116% of the St. Lucie County average wage," Balcer said.
One of the changes approved by commissioners extends the amount of time the developer has to fulfill its job creation commitment, giving it an additional three years to reach the 1,005-job target.
The package also preserves several incentives previously authorized by the county, including a job growth investment grant, impact fee mitigation and a potential property tax exemption.
"The resolution also carries forward the board's prior authorization related to the Job Growth Investment Grant, the Impact Fee Mitigation Agreement, and the contemplated ad valorem tax exemption, which is 100% of an exemption for the first five years, and then it's on a declining scale to 90% in year 6, 85% in year 7, 80% in year 8, 75% in year 9, and 70% in year 10," Balcer said.
The job growth investment grant would be tied to the company's actual performance rather than paid upfront.
Balcer said Project Orchid received 115 points under the county's revised Economic Incentive Scoring Matrix, putting it in the "Exceptional Impact" category.
"Project Orchid received a score of 115 points under the county's revised Economic Incentive Scoring Matrix, placing it within the Exceptional Impact category. The maximum per job value is $2,000, resulting in a maximum eligible job growth investment grant award of $2,010,000," he said. "As you know, this is a performance-based incentive. Payments aren't made until the county verifies that qualifying jobs were created. Wages have been met, as well as other commitments."
The project also could receive relief from certain county road impact fees if it meets annual requirements tied to its development commitments.
"Project is eligible for mitigation up to 100% of the eligible county road impact fee amount. Based on the current information, those fees are estimated at approximately $1.8 million," Balcer said.
The incentives come as voters prepare to consider property tax reform in November, raising questions about how potential changes could affect future agreements.
Deputy County Administrator Mayte Santemaria said the county's incentive framework includes mechanisms that give commissioners options if a project does not meet its commitments.
"When you adopted the new incentive criteria for the economic incentives, you included a clawback and recapture process, and it specifically states the board retains the full discretion to approve, deny, or modify or revoke the agreement. So you have the opportunity to make those decisions," she said.
If completed, Project Orchid could become one of the largest manufacturing facilities in St. Lucie County, with a planned footprint of 1.4 million square feet.
The County Commission previously approved several developer agreements for the project in May, bringing the proposed development another step closer to construction.