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HQ relocation could result in 70 jobs in Palm

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HQ relocation could result in 70 jobs in Palm Empty HQ relocation could result in 70 jobs in Palm

Post by Guest Tue Mar 29, 2011 6:49 am

HQ relocation could result in 70 jobs in Palm


More than $1 million in incentives to generate at least 70 jobs


Chromalloy, an aviation services company, plans to relocate its corporate headquarters from Orangeburg, N.Y., to Palm Beach Gardens, resulting in about 70 jobs at the site, the Business Development Board of Palm Beach County announced Tuesday.Chromalloy,
which does research and development in the gas turbine engine industry,
chose Palm Beach Gardens as a location for its "technology center of
excellence" because the area "is really rich with engineering talent,"
said spokesman Andrew Farrant. The jobs will be specialty engineering jobs with salaries of around $80,000, he said.Of
the new jobs, 8 to 10 will be existing personnel moving from a nearby
operation in Stuart, and several others from research locations at
Chromalloy's operations across the country, Farrant said.

Locally, Chromalloy plans to hire about 40 specialty engineers in the
next two years and at least 50 over five years, Farrant said.Chromalloy
could receive a total of $1.06 million in tax refund and other job
creation incentives between local, county and state governments, pending
county commission approval. Based on the 40 jobs in the next two years,
the incentives come to $26,600 per job. At 70 jobs, the incentive costs
about $15,000 per job.Smallridge said Chromalloy is
contractually obligated to create at least 70 jobs — including workers
they move to the location — to receive the incentives.
http://www.sun-sentinel.com/business/fl-chromealloy-headquarters-20110328,0,4097911.story

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Post by mrgolf Tue Mar 29, 2011 4:01 pm

What would be good for palm Beach Gardens would be bad for Orangeburg, NY

HQ relocation could result in 70 jobs in Palm Good+news-bad+news
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