County OKs incentives for AmEx expansion
worldwide travel and financial services company got the green light
Tuesday to receive tax incentives to expand its Latin American Caribbean
division in the area, creating 131 direct and indirect jobs over three
years while investing $5 million in the local economy.
County commissioners approved $375,000 in Qualified Target Industry
Tax Refund incentives to help American Express Travel Related Services
Inc. expand its Latin American Caribbean division in Miami Lakes.
amount is contingent upon the company's creation of 75 direct jobs
with an average salary of $67,900 and 56 indirect jobs over the next
three years, according to county documents.
State of Florida is to provide incentives totalling $300,000, which
the county agreed to match by 20% for a total contribution not to
exceed $75,000 over the next six years, according to an economic impact
model submitted by the Beacon Council, the county's public-private
economic development arm.
total payroll for the new jobs is expected to grow to $28 million
over that six-year period, records state.
Express Travel plans a 50,000-square-foot expansion of its Miami Lakes
headquarters at 14901 NW 79th Ct., county documents show.
for the company have not yet decided whether to expand at that site
or relocate, according to Joe Martinez, Beacon Council vice president
of business development.
company employs 310 in Miami Lakes, including employees who work in
the firm's Latin American Caribbean division, he said.
expansion is important because the name adds to the prestige of Miami-Dade
County," Mr. Martinez said. "It shows that there is confidence
for more growth and potential for our area."