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Thu, Jun 23, 2016

Sikorsky Qualifies For Tax Exemptions In Palm Beach County, FL

Has Met Requirements Approved By The City In 2015

Palm Beach County in Florida has approved an ad valorem tax exemption of up to $128,575 over a three-year period and an economic development cash incentive of $18,200 for Sikorsky Aircraft Corp.

The incentive will allow Sikorsky to expand a 33,000-square-foot addition to the company’s CH-53K Marine helicopter testing facility.

The agreement requires the company to make a minimum $10.3 million capital investment, create 14 new full-time equivalent jobs over a three-year period at an annualized average wage of $80,000 and maintain those jobs for a period of five years, as well as retain 81 existing jobs for three years.

The incentives were initially approved by the county in 2015, according to a report from the McClatchy News Service. The incentive was expected to be finalized by the County Commission on Tuesday, according to the report.

(Sources include Palm Beach County news release. Image from file)

FMI: www.pbcgov.com

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