Florida Moves Aggressively to Attract Technology Companies-The Sunshine State continues to lead the nation in job creation.

Datamaxx, one of the fastest-growing technology companies in the United States, moved into its new national headquarters in Tallahassee in early 2002. The facility, developed by St. Joe/Arvida, a national developer and major landholder in Florida, includes a 24/7 Network Operations Center and state-of-the-art video conferencing center. Future plans include a second facility of comparable size on adjacent property.

By: Bill King Expansionmanagement.com

"Being in Tallahassee gives us every technology advantage we need to remain competitive, but keeps our overhead reasonable and our employees happy with the outstanding quality of life this area offers," said Kay Stephenson, president and CEO of Datamaxx Group.

"With two nationally recognized universities and a community college, we have access to a large, educated work force," Stephenson noted. "We have all the amenities of a state capital, and we’re located at SouthWood, a fully wired commercial and residential community that is one of the most progressive developments anywhere."

Datamaxx serves more than 70 percent of the law enforcement communications market in North America, including 15 federal agencies and state and local customers in 35 states, Canada and Guam. The company was the first to introduce technology that enables agencies to exchange mug shots and fingerprints via personal computer.

"There is life outside Silicon Valley," Stephenson said. "We’re proof that smaller cities are fertile ground for success."

Biomedical Technology Industry Now "High Impact"

Florida recently made specialized incentives and tax credits available to medical device manufacturers, as well as to biotechnology and pharmaceutical companies.

The capital investment tax credit is an annual credit against a company’s Florida state corporate income tax liability. The amount of the annual credit is equal to 5 percent of the eligible capital costs and can be taken for 20 consecutive years. Eligible costs include all expenses incurred in the acquisition, construction, installation and equipping of a project from the beginning of construction to the commencement of operations.

To be eligible, a company must create at least 100 new jobs and invest a minimum of $25 million in the project.

The high impact performance incentive is a negotiated incentive used to attract and grow major high-impact facilities. To qualify, a company must create at least 100 new full-time jobs in Florida in a three-year period, and make a cumulative investment of at least $100 million. If the facility is a research facility, the qualifications are 75 full-time jobs and a cumulative investment of $75 million.

Florida currently ranks second in the nation in biomedical employment, with more than 2,000 firms and 50,000 workers manufacturing medical devices and ophthalmic goods, developing biomedical technologies, and discovering and producing new pharmaceuticals, vaccines and diagnostic tests.

European auto companies open facilities in Jacksonville

As its selection again this year as "America’s Hottest City" in a poll of professional site selection consultants (see page XX) illustrates, Jacksonville continues to attract a broad range of companies from around the world.

BMW of North America LLC chose Jacksonville as the site for its fourth regional Parts Distribution Center.

"The Southeast part of the United States continues to be a strong market for BMW Group, and we are committed to providing our dealers and customers with the best possible service," said Hans Duenzl, vice president of aftersales and engineering for BMW. "With approximately 1.4 million BMWs on the road now, and exciting new models planned for the coming years, we are ready to expand our parts logistics capabilities."

The new 140,000 square foot facility will support 45 BMW and MINI dealerships in Florida, Georgia, North Carolina and South Carolina. The center will employ up to 50 people and accommodate inventory for all BMW and MINI vehicles, about 70,000 parts.

This past summer, after a lengthy review process of nearly every Southeastern state, Italy-based C.F. Gomma S.p.a., one of the leading European suppliers of rubber-based components for the automotive industry, announce plans to relocate its U.S. headquarters from Columbia City, Ind., to Jacksonville.

"We believe that Jacksonville will provide us with a number of benefits," said Art Wilson, director of administration for C.F. Gomma USA Inc. "The region is a hub serviced by interstate highways and a dynamic deepwater port, both of which will allow us to deliver parts more efficiently to our clients. In addition, Jacksonville offers a qualified and skilled work force."

The company, which will also operate a brake hose assembly plant, will employ about 250 at its Jacksonville facility and headquarters.

Enterprise Bond Loans

Enterprise bonds are designed to help Florida’s small- to medium-sized manufacturers and not-for-profits that otherwise would not have access to tax-exempt financing. The program pools individual loans into a single composite bond issue to help companies fund the purchase of property and equipment involved in an expansion.

Four companies in Florida recently qualified for a total of $4.92 million in tax-exempt bond financing through the state’s Enterprise Bond Program.

Triple Crown Trailers Inc., an Ocala company that manufacturers metal trailers for commercial and private use, will receive $1.25 million in tax-exempt bond financing to purchase new property and equipment and renovate an existing facility.

REPCO Equipment Leasing Co., a Tarpon Springs manufacturer of asphalt paving materials, will receive $1.2 million. Energy Planning Associates Corp., a designer and manufacturer of energy-efficient lighting systems for commercial and institutional use, will receive $1.44 million in tax-exempt financing.

The other two companies, M.J. Eagle Realty L.C. in Miami-Dade County and Serigraphic Arts Inc. in Hillsborough County, also received financing through the program.

The program provides financing at 30 percent below the prime lending rate and accommodates financing needs ranging from $500,000 to $2 million for borrowers able to secure a letter of credit from a participating bank.

Since the introduction of the program in 1998, 44 companies have received more than $61 million in Enterprise Bonds. For more information about the program, log on to http://www.eflorida.com/all_why.html and click "Financial Resources."

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