Palm Beach County commissioners have given initial approval for an expanding Riviera Beach company to receive a $89,000 economic development grant if it follows through with plans to expand its operations and create 178 new jobs.
The company, whose identity has not been revealed, would receive the $89,000 over eight years. It plans to invest $11.9 million and create 178 new jobs over a five-year period with an average annual wage of $53,484. The company has also pledged to retain 255 existing jobs.
Such economic incentives have drawn some opposition from those who believe the county is paying companies to do what they would do anyway. Commissioners, however, have argued that the incentives help the county recruit and retain businesses that might otherwise leave or never locate their operations here in the first place.
The five-year estimated local economic impact of the Riviera Beach expansion is $342 million.