TBO.com - TBO is Tampa Bay Online

County Splits On Offering Tax Incentives To Businesses

ADVERTISEMENT

By KEVIN WIATROWSKI | The Tampa Tribune

Published: September 23, 2008

ODESSA - Pasco County commissioners were divided today on how to distribute nearly $250,000 in public funds as tax incentives to two companies in the Odessa area.
County commissioners granted Coastal Caisson Inc. more than $136,000 in financial incentives as part of the company's decision to open new headquarters on Gunn Highway in Odessa.
Coastal Caisson builds foundations for bridges, power plants and other large structures. The Clearwater-based company is building a new 41,600-square-foot headquarters complex in an industrial area straddling the heavily travelled Gunn Highway corridor linking Pasco and Hillsborough counties.
Company officials say they'll bring 50 new jobs to Pasco with an average wage of $53,000.
The incentives include a refund of $8,900 in building permits and more than $126,000 in impact fees, some to be repaid over the next five years.
Commissioners balked at giving a similar package of incentives to Stainless Fabricators Inc., which is looking to expand from its location on Gunn Highway in Pasco.
The company hopes to move to a new site at the West Pasco Industrial Park. County incentives will help Stainless secure financing for its relocation, said Diane Sanderson, existing industry manager for the Pasco Economic Development Council.
"This is one of those needed incentives," Sanderson said.
Commissioner Jack Mariano urged his colleagues to agree to the Stainless incentive, saying it is a way to guarantee the company will stay in Pasco.
"This is a perfect retention agreement," Mariano said.
County commissioners weren't convinced that their investment was worth the 10 workers Stainless says it would add.
Reimbursements for Stainless would come from the county's dwindling reserve, Director of Management and Budget Mike Nurrenbrock told commissioners.
"I don't think anyone up here doesn't want to support this company," County Commission Chairman Ted Schrader said. "It's a question of what we can afford."
Commissioners delayed a final decision on the incentives until Oct. 8, when they're likely to approve a reduced version of Stainless Steel's request – about $50,000 instead of the $116,000 request.
Also Tuesday, commissioners:
Approved a new five-year deal for Covanta Pasco Inc. to run the county's solid waste incinerator on Hays Road in north-central Pasco.
Under the deal, the county will pay Covanta $450,000 and levy a 15-cent surcharge on each ton of garbage disposed of at the incinerator.
Covanta will build a facility for removing nonferrous metals, such as aluminum, from the ash left behind after garbage has been burned to generate electricity. Covanta will recoup the costs of the new facility by selling the recovered scrap metal.
After the building is paid off, Covanta and the county will split future income from recycling the recovered scrap, according to the deal.

Reporter Kevin Wiatrowski can be reached at (813) 948-4201 or kwiatrowski@tampatrib.com.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT