Officials announced Friday that the company behind Project Continental is Palm Coast Data. And its parent company, New Jersey-based AMREP Corp., will make Palm Coast its new home -- and a center for about 700 new jobs with an estimated $175 million in annual economic activity.

Jobs at the magazine subscription company are expected to have an average annual wage of $29,530 and about $10,000 in annual benefits per employee, officials said.

Story continues below ↓

"This makes us all a better and stronger community and an even better place to live and work," said Mayor Jon Netts.

Kable Fulfillment Services and Palm Coast Data, Flagler County's largest private employer, will operate under the Palm Coast Data brand. Starting this fall, the company's Colorado and Illinois operations, with about 875 employees, will be cut and shifted to the city in phases.

For months, city officials have remained mum on the company's identity, saying company officials requested anonymity since they also were considering locations in two other states.

But after what Nett's called a "hard-fought" battle by local and state agencies and a slew of economic incentives, Palm Coast closed the deal.

"It's one of the most exciting, biggest deals I've ever helped put together in my career," said City Manager Jim Landon.

Palm Coast became the relocation front-runner because of its large existing employment base, available work force and large magazine and membership client base, said Palm Coast Data president John Meneough.

With the company's nearly 1,000 local employees, new jobs and the creation of 793 indirect jobs, Flagler County is expecting to benefit from just under 2,500 permanent jobs, Netts said.

The county had the highest unemployment in the state at 8.3 percent in May, up from 5.7 percent in May 2007, according to figures released in June by the state Agency for Workforce Innovation.

"The whole purpose of what we did here today was to get people employed," said Tom Cooley, executive director of Enterprise Flagler.

If Palm Coast Data doesn't follow through on its job promises, the city could revoke its 10-year, $400,000 tax break, Landon said.

"This is not a cash transaction. This is a performance-based transaction; therefore, the city and taxpayers are protected," Landon said.

To attract the "high-wage, high-value" jobs, the state pitched in almost $6.5 million in cash and tax breaks, said Stuart Doyle, Enterprise Florida's communications director. The county's still considering $100,000 in relocation assistance and five years' property-tax abatement, said spokesman Carl Laundrie.

And to sweeten the deal on their end, the city in September offered up City Hall as the company's new headquarters at $240,000 annually, with the option to buy it for $3 million within three years.

Meneough said, although the company will be breaking ground soon on a 200,000-square-foot facility, the City Hall offer was instrumental in Palm Coast being selected.

"Without it, it would have been a very difficult decision to make to stay here and move jobs here," Meneough said.

City officials and staff must vacate the Commerce Boulevard building by Nov. 1. They're already eyeing another temporary 21,000-square-foot space at City Walk, a four-building shopping center on Cypress Point Parkway, Landon said.

The City Council will consider the $20,000-per-month lease at a special meeting Tuesday.

Other city incentives included the mitigation of wetland issues, expedited permitting and processing, and free use of the city's fiber optics for two years.

"This will be a major catalyst for attracting other businesses of national stature to the city of Palm Coast," said Ira Corliss, city economic development director.

kari.cobham@news-jrnl.com

Click here to view the story and any reader comments.

Discuss Story On Newsvine
Rate Story:
View popularLowHigh
Email
Instant Message
Print