Tax incentive approved for county business’ expansion
The Lee County Office of Economic Development has announced that the county and state have approved financial incentives for JRL Ventures, Inc./Marine Concepts to support its headquarter expansion plans in Fort Myers. The incentives will assist the company in creating 75 new jobs in Lee County. The economic impact in the county for this project is estimated at $6.3 million.
The company currently employs 40 full-time employees, their growth plan and new business is expected to create at least 75 new jobs over the next three years at an average Lee County wage of $41,650 which is 115% of the average wage.
As part of the expansion, JRL Ventures, Inc./Marine Concepts will receive a Qualified Tax Incentive from the State of Florida and Lee County worth $225,000. Of the $225,000 in QTI incentives $180,000 or 80 percent comes from the State and the remaining 20 percent, or $45,000 match comes from the Lee County incentive program.
Founded in Cape Coral in 1975 and purchased by the current owner in 1993. JRL Ventures, Inc./Marine Concepts is the premier supplier, design and engineer of plugs, patterns and molds for many different types of composite industries.