County Expands Business Incentives

County Commissioner Rose Rocco said it is vital Hernando County gain a reputation of being a "business-friendly community."
More must be done, she said, to help existing business owners, especially as they go through the permitting process in trying to expand.
That is also a top priority of Office of Business Development Director Mike McHugh who presented at Tuesday's commission meeting an amended economic development incentives ordinance designed to encourage the expansion of existing business and help attract new industry.
The new ordinance targets several new kinds of industry for Hernando County and provides a cash grant to certain targeted industries that create jobs here. Those cash grants would be performance-based and paid out to the company over a four- or five-year period.
County commissioners voted 5-0 to approve the amended ordinance.
County Commissioner David Russell said this updated incentives ordinance will "enhance our ability to attract industry to Hernando County."
Some of the highlights:
A business would receive up to $2,000 per new job that pays at or above 100 percent of the average annual county wage, which is currently $27,650 ($13.29 an hour).
The company would get up to $3,000 per new job if it pays at or above 115 percent of the average annual county wage, or $31,798 ($15.29 an hour).
If a business locates in the Brooksville-Hernando Enterprise Zone, it would get up to $3,000 per new job if the wage is above 100 percent of the average wage.
The county airport director can provide land lease incentives to certain targeted aviation industries.
A new Job Creation Incentive Program will attract industries seeking to lease an existing or speculative building.
The amended ordinance also updates the "targeted list of industries" the county is trying to attract to bring in higher-paying jobs.
They include jobs in the aviation and aerospace industry (including aircraft manufacturing, maintenance, air freight and passenger charter services); green technologies and energy (solar energy, bio-fuels, water energy, fuel cells, hydrogen, energy conservation); research and development; logistics, distribution and warehousing.