- November 23, 2024
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A manufacturer will be moving to Ormond Beach with the promise of bringing 38 jobs over a three-year period with salaries above the local average. The City Commission recently approved an incentive package for the company.
The officials approved growth assistance funding of $106,800 over a five-year period to PGG, a machinery winding and coil processing manufacturing company, now located in Ringwood, New Jersey. They plan to move their entire operation to 3 Aviator Way in the Ormond Beach Business Park over the next few months.
The incentives include $1,000 per employee hired, a capital investment incentive payment of $37,200 and reimbursement of city property tax, expected to be $31,600, on the value they add to the building over five years. These incentives depend on the company spending $750,000 in building renovations and installing $2.15 million in manufacturing equipment, as well as adding 38 jobs.
Joe Mannarino, city economic development director, said they may bring a couple of employees down from New Jersey, but most will be hired here. Machinists and engineers will be needed.
Mannarino said the building they will be occupying is now just an office and a warehouse, and PGG will be converting it to a manufacturing facility and doubling the size of the building.
The $1,000 per job from the city will help the company get a grant of $5,000 per job offered by the state, which requires a contribution by local government. The average salary of the jobs, which will be added over a three-year period, must be $39,900 which is 115% of the average wage in Volusia County. This wage level is required by the state grant.
Mannarino said the company officials worked with Volusia CEO Business Alliance, looked around the area and liked the Ormond Beach Business Park. One advantage at the park, Mannarino said, is that it has an efficient canal drainage system that allows a company to cover 80% of their lot with impervious surface.
Mannarino said it will be a significant boost to the economy as well as an improvement and expansion of a building at the business park.
Average wages
The average wage in Volusia County is $34,696 and the average for the new jobs will be $39,900. The average for Flagler County is $29,687 and statewide it’s $44,065, according to the Bureau of Labor Statistics.
