Economic development leaders in Florida announced Tuesday that 400 jobs could be coming to Florida through a company from India landing in Gainesville -- and the expansion of an existing business in northern Palm Beach County.
MindTree Limited, a global information technology company based in Bangalore, India, and Warren, N.J., has unfolded plans to open its first U.S. development center in Gainesville. Meanwhile, Sikorsky Aircraft is going to expand its footprint west of Jupiter.
The move by MindTree is expected to bring the first of 400 jobs starting this summer. The jobs are to be created over five years.
Gov. Rick Scott said MindTrees decision confirms that our state is doing the right things to attract innovative businesses like those in the IT sector.
Meanwhile, Sikorsky, a subsidiary of Connecticut-based United Technologies Corp., is planning a $10.3 million investment in Palm Beach County, adding to an existing staff of 81 some 14 jobs that pay an average of $80,000 a year.
The majority of the investment, about $9.3 million, will be used to build a 35,000-square-foot hangar facility.
To attract MindTree over bids from Alabama and South Carolina, Florida offered $950,000 through quick-action closing funds, $800,000 for quick response training, and it can receive up to $1.2 million in a tax refund, of which 80 percent would come from the state.
Both Gainesville and Alachua County have agreed to provide up to $120,000 each in tax refunds over four years.
For the Sikorsky expansion, the state is providing $600,000 through quick-action closing funds, and the company is eligible for up to $78,400 in qualified tax incentives from the state.
The company could also receive $54,240 in sales tax exemptions on equipment purchases and $122,400 for employee training in the fields of science, technology, engineering and math.
The governors office noted that Sikorsky could spin off other opportunities in the future.
According to a release from MindTree Limited, the company is expected to make a $2.925 million investment in Gainesville through redeveloping the Ayers Building at Innovation Square.
"We were looking for a location that could offer our clients a pool of enthusiastic people in a community and state that would be supportive of our efforts to grow the company," Scott Staples, co-founder of Mindtree and president of the Americas, stated in a release.
"Gainesville and the state of Florida offered us the perfect combination of business climate and resources and close proximity to one of the regions leading engineering schools.We are thrilled to bring MindTrees high-tech expertise and unique corporate culture to Florida, and we are looking forward to opening our facility later this year."
The Gainesville Area Chamber of Commerce and Council for Economic Outreach have been working to recruit MindTree since December 2011 when the company first made contact with the University of Florida College of Engineering.
I believe the ecosystem formed between MindTree, the University of Florida and the Gainesville community will be a successful model others will follow, stated Michael Gallagher, chairman of the Gainesville Area Chamber of Commerce.
University of Florida President Bernie Machen credited his school as a key factor in MindTrees decision.
This shows the importance of having a leading national research university in the mix when it comes to economic development, he stated in a release. We have the expertise, resources and talent to provide businesses like MindTree with qualified employees and access to cutting-edge research.
Reach Jim Turner at jturner@sunshinestatenews.com or at (772) 215-9889.
