Please ensure Javascript is enabled for purposes of website accessibility

EDC spends $710K on 274 jobs

  • By
  • | 7:49 p.m. October 13, 2010
  • Manatee-Sarasota
  • Share

Two Sarasota manufacturing companies plan to hire 274 new employees over the next five years, and the Economic Development Corp. of Sarasota County has approved $710,000 in performance-based incentive grants to help them do so.

Tervis Tumbler Co. could receive up to $350,000 for adding 214 jobs over the next five years, an EDC release said. Additionally, President Laura Spencer says her company plans to add 35,000 square feet of space to its current facility, and will soon invest more than $7 million in new production equipment.

The other company receiving support is Sarasota Medical Products, which could get $360,000 for adding 60 jobs. Frederick Brown, the company's chief financial officer, said his firm also considered bringing its manufacturing operations to Pinellas County before deciding to do business in Sarasota.

For the companies to receive funding, each new employee must earn a wage that exceeds the current county average.



Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.