Gov. Rick Scott cheered on the arrival of Bing Energy in Tallahassee Thursday, and was quick to mention that his policies were a major factor in bringing the company to Florida.
Bing Energy, a company that makes state-of-the-art fuel cells, is poised to create 244 jobs over the next seven years, with an average wage of $41,655, after deciding to relocate its corporate headquarters to Tallahassee.
Just as Bing Energy was convinced to bring jobs here, I am talking to companies across the nation. I am letting them know that our reduction in the business tax burden, commitment to job creation, and Floridas world-class work force mean we are open for business, Scott said.
The Office of Tourism, Trade and Economic Development awarded the company $1.9 million as part of a qualified target industry tax refund, provided Bing Energy meets its hiring goals of 244 jobs over seven years. The Leon County Commission and the city of Tallahassee have also pledge a 10 percent match on the refund.
But Bing Energy officials said it was Scotts policy of phasing out the corporate income tax that was the deciding factor in choosing to move to Florida over other states. The company began its application for the OTTED refund before Scott was elected but made its final decision to come to Tallahassee in December, a month after the election.
The tipping point in our decision to move to Florida was the governors pledge to eliminate the corporate income tax, said Dean Minardi, chief financial officer for Bing Energy.
Although Bing Energy ultimately chose Tallahassee for its corporate relocation, part of the companys work was always going to be conducted in the state capital. Bing Energy is working with Florida State Universitys Dr. Jim Zheng, who is developing a new type of fuel cell that reduces the need for platinum in developing the cell.
Because of the new technology developed by Dr. Zheng at FSUs High-Performance Materials Institute, Bing Energy will be able to make fuel cells that are cheaper and more efficient, and will begin to produce and mass market the cells in March. The vastmajority of the cells will be sold to China for use in automobiles.
We all know the worlds existing energy use pattern is unsustainable. A commercially viable fuel cell will transform the way we drive, reducing our dependence on fossil fuels. It will transform the way we deliver energy to neighborhoods, ensuring reliability and eliminating the risk of brownouts, Minardi said.
While local Tallahassee elected officials buddied up with Scott for the day to welcome the new company, they also gently reminded the governor that the state capitals economy will be hurt by the layoffs of state workers included in Scotts budget proposal.
The cuts in the state government and federal government will significantly impact our local economy, said Tallahassee Mayor John Marks, adding that job creation must be done at the local level.
Reach Gray Rohrer at grohrer@sunshinestatenews.com or at (850) 727-0859.
