Posted on 09/20/2017 5:02:41 PM PDT by 2ndDivisionVet
LAKELAND — Geico plans to add between 300 and 500 new jobs and build a new $12 million, 50,000-square-foot facility near its current site in Southwest Lakeland.
Both the city and county will offer big tax refunds to the second-largest auto insurer in the nation.
On Tuesday, county commissioners approved a package that provides $369,000 in incentives over five years to Geico if the company meets certain hiring targets each year.
The city of Lakeland is offering the same $369,000 incentive package to Geico, which has its current building at 3535 W. Pipkin Road.
Other incentives were approved for Geico.
County commissioners voted to approve the application for Geico’s economic-development property-tax exemption. That means the company won’t be required to pay $60,000 in property taxes from 2019 to 2025.
And county commissioners approved $120,000 in impact-fee mitigation.
County Commissioner George Lindsey acknowledged that the incentives were a high figure, but he defended the move.
He said the company considered moving to another county.
In the end, he said, it will increase the county’s tax base and create up to 500 jobs.
“It was the appropriate thing to entice them to increase their presence,” Lindsey said.
The company is expected to begin construction in early 2018.
County Commissioner Melony Bell thanked Geico representatives at the hearing for staying in the county and investing $12 million.
“We’re glad you decided to stay here,” Bell said.
Janice Hobart, a spokeswoman with Geico, did not return a phone message.
Geico, owned by Warren Buffett’s Berkshire Hathaway, employs 2,800 people and is the third largest employer in the Lakeland area behind Publix Super Markets Inc. and Lakeland Regional Health Medical Center, according to the Lakeland Economic Development Council.
A zoo for ghekos?
Crap. They keep taking all our parking spaces. Hope the plan FOR PARKING in the new building.
Btw. They are THE WORST DRIVERS ANYWHERE. No driving manners AT ALL.
“”if the company meets certain hiring targets each year.””
Let’s guess what those targets might be!!!!! Diversity and lots of it!
You’re like the Willie Green of job gains!
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