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Incentives Agreement With Delamere Industries, Inc., for Jobs Creation Grant Award
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BRIEF OVERVIEW
Delamere Industries, Inc., is a leading manufacturer and installer of the Florida Department of Transportation (FDOT) Handrail, FDOT Fence, Bullet Railing and Rectangular Tube Retrofit Railing across Florida. Delamere Industries, Inc., has continued to expand their product and service offerings leading to additional growth and acquisition. Additional services and products include Computer Numerical Control (CNC) plasma cutting and mill work, pipe bending, custom aluminum/steel structures, architectural features, and custom signs. Located at 19370 Oliver Street, Brooksville, Florida, they occupy a 22,000+sf manufacturing facility.
Because of this growth and to meet client demands, Delamere Industries, Inc., intends to expand their Hernando County workforce adding 45 new employees over the next three years to their existing staff of 62 at the Oliver Street location. The wages will average at least $55,307/year. This will meet or exceed 125% of the County’s Average Annual Wage (AAW) which is $44,247. Delamere has requested and, in accordance with Hernando County Code Chapter 11.5 as an expanding targeted industry, is eligible for incentives detailed in the Hernando County Targeted Industry Job Creation and Incentive Program. The incentive provides for $5,000 for each new job created which is paid over a 5-year period. The new jobs will be created on the following schedule:
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Phase |
# New FT Jobs |
Dates Jobs Created/Jobs Maintained |
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I |
15 |
December 31, 2025/December 31, 2030 |
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II |
15 |
December 31, 2026/December 31, 2031 |
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II |
15 |
December 31, 2027/December 31, 2032 |
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Total |
45 |
|
Incentives, totaling $225,000.00, will be paid in phases beginning in 2026 and ending in 2032 from existing incentive fund - 1551-01775-5808233. Incentives are paid upon Office of Economic Development review, receipt of job creation and wage documentation as required by the Incentive Agreement.
FINANCIAL IMPACT
Funding will be expensed from the following account starting in Fiscal Year 2026:
Fund: 1551 - Industrial/Econ Incentive, Department: 01775 -- Industrial/Econ Incentive, Account: 5808233 - AID-Job Creation Incentive.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached Hernando County Incentives Agreement with Delamere Industries, Inc.