Confidential Project Wonka Economic Incentive Agreement - $3,206,000.00

2:01:53Bill and David Engel real quick for R77.

2:01:58Good morning, Board of County Commissioners. My name is David Engel. I'm the Planning and Economic Development Director for Pasco County. This project is part of our economic development programming, and they say in bowling, if you get three strikes in a row, you get a turkey. Well, this is the turkey around the Zephyrhills Airport. This is number three in the uh portfolio that the Pasco economic Economic Development Council is presented to us. The property where this project is going in, which is called Confidential

2:02:28Project Wonka for one more minute, is a 62-acre site. It's located on 6th Avenue near the Balduco property. So this is number three in the Zephyrhills Airport area. We had Balduco, we had Mitech, which is a roofing system company going in, and this will be number three. There'll be a the proposal is to do a 250,000 square foot food processing and distribution facility. It'll generate 100 direct full-time jobs, induced and indirect jobs

2:02:58collectively will be 564 jobs. The capital investment is $111 million, and uh the incentive proposal is $3.206 million, and it's broken down into three concise buckets of incentives. One is the job creation incentive. They have applied for 37 full-time employee jobs with an average wage of approximately $63,000 a year, which is 115% of

2:03:29the county average. We have a $3 million

2:03:33ad valorem rebate, which will be paid out over 10 years. Now, over that 10-year period, the general fund will be enduring $5.1%. 14 million. So it is net positive to the county general fund cash flow. And after 10 years, uh the incentive is is uh uh completed and then we get the full taxable advantage. The gross county product contribution is sixty-three point two million dollars a year. So I'm going to turn it over to Mr. Cronin, who's president and CEO of

2:04:04the Pasco Economic Development Council, and he will introduce you to the project. Thank you.

2:04:12Thank you, David, and uh thank you, Commissioner Good morning or good afternoon, and happy Tuesday. And I would be r remiss if I didn't say it's another great day here in Pasco County. So we're gonna change the flavor a little bit of the uh conversation. I'm thrilled to introduce to you a company that's not only a global leader in its industry, but it's also multi-generational, family-owned business. With deep roots, with commitment to quality and excellence. As a matter of fact, the company's first slogan

2:04:43was La Passion de la qualité, which is French for Passion for Quality, and it still serves as their guiding principle still today. So without further ado, I'm happy to share that Monin Incorporated and Monin America's doing business as Monan America's, a French-founded flavoring manufacturer with over 110 years of heritage, has selected one of our Pasco EDC ready sites, specifically the Zephyrhills,

2:05:14Industrial Park for its next major manufacturing expansion here. They currently have presence in over 150 companies, countries. Monin is a uh countries. Uh they're the premier flavor choice for coffee houses, food services, and operators worldwide. You probably have

2:05:35We use them in our Starkey market.

2:05:36I was gonna say you probably have some syrup in your coffee right now, depending on where you went. Um this product Projects $111 million, as mentioned by David earlier today. 250,000 square foot facility that's going

2:05:50to

2:05:50be located on that first Ready Site that we had back when we first started the Ready Sites program back around 2016. So highly successful program, but I want to highlight that these jobs are going to be above the average wage. Several of them will be and then also the partnership again. This was another one of those projects that had the state, the county, uh county staff, uh Pasco EDC, City of Zephyrhills, and Duke

2:06:20Energy all working together on this and that is such a great message to other people that wanna wanna come here. I said it with Bauduco and I'll say it again with Mona. It's gonna smell great in that area of the county. But here today to join us, we have a couple representatives from Monan Incorporated. And that is Mr. Greg Grabo, who is our CFO for Monin Americas, and Stasia Johnston, who is representing the CEO tonight. And

2:06:50I'd like to ask them to say a few words.

2:06:55Thank you. Thank you for I'm Greg Grabo, CFO of Monin. Thank you for having us here today. We just wanted to reiterate what was already said. We love the site. We look forward to hiring all the people out here and investing in the community. We're excited about where we are. This project is going to help carry Forward for the next 10 to 20 years. All the numbers we just spoke of was just phase one. We won't build out the full site in

2:07:25phase one. So as we continue to grow, we'll continue to grow with Casper County.

2:07:32The only thing I would add is that we are our business is growing at such an exponential rate that we are we need this land and this manufacturing plan in order to continue to grow our business and offer our product into coffee shops, restaurants, bars, cafes, hotels around all of the Americas. As US, Canada, and Latin America. And so this will be a really uh much needed manufacturing plant for our company as we continue to grow. So thank you for considering it.

2:08:02And when you your name for the record?

2:08:03Oh sorry, Stasia Johnston on the SVP of strategic planning for Modern America.

2:08:09Commissioner Starkey.

2:08:10So um I have toured your facility in Pinellas County. Um and uh as you know we have our AMSkills Manufacturing Training Program. You may not know that if you're not from Pinellas. But we've been working with you guys for over 10 years. So we are working on expanding our our manufacturing training program to the east side. As a matter of fact, we have a boot camp coming up in August out in Zephyrhills. So we're really glad you're here and we look forward to helping you train your workforce.

2:08:39Oh, we're excited to be here. Um next next August we'll be at that book.

2:08:43Yeah.

2:08:46I think I think you oughta take a look at the cum quat. Here in Pasco County and maybe have a have a unique our counties our county's plant, some flavor. Make it a flavor and incorporate it into something, just saying.

2:09:01Love it. Dade City is the Kumquat capital of the world.

2:09:05Well

2:09:05I make it I make the decision for the flavor of the year so I'll put it in the note.

2:09:11We're gonna have to send them a pack.

2:09:14I would uh like to welcome you to Pasco County. Uh I was born live here in Dade City my entire life and um Right, enjoy all my citizens and want the best for 'em. This is good for our citizens in Pasco County. You are a part of my district and my office is open to you. If you need me, just give me a call. Okay. Thank you.

2:09:38Is that leading to a motion? Yeah, is that your motion?

2:09:41Oh yes, I'll make a motion.

2:09:42Second. I'll second it. All in favor say aye. Aye. Aye. All right. Unanimously. Welcome to Pasco County. Congratulations.