Three firms get tax breaks to generate up to 400 jobs in MiamiBy Candice Ventra
Three companies will get job-creation tax breaks from Miami-Dade County worth nearly $300,000 over five to seven years beginning in 2002.
Combined, the firms which are in the telecommunications, biomedical and automotive businesses are expected to create nearly 400 jobs in three years through expansion of current offices or opening of new ones, county officials said.
Miami-Dade County commissioners have approved Qualified Target Industry tax incentives for IDS Telcom, Boston Scientific Symbiosis Corp. and Mitsubishi Heavy Industries. The incentive program provides tax breaks based on the number of jobs a company creates and requires approval from the state as well as the county.
"The incentives have not been finalized yet by the State of Florida," said Joe Martinez, vice president of business creation for the Beacon Council Miami-Dade's economic development agency. "It usually takes about two to three weeks for the state to pass them after it's been passed by local government."
Miami-based IDS Telcom, a provider of local long-distance data products and services, plans to expand and add 150 jobs in three years, Mr. Martinez said. He said the expansion will help the company's plan to serve markets throughout the United States.
Although a new office has not been found, executives are looking at possibilities in the county's enterprise zone areas deemed as underserved. The company is presently located in northern Miami-Dade near the Golden Glades Interchange.
IDS executives were convinced by Beacon Council officials to keep the company here, said President Michael Noshay.
"We were going to move our major processing center and customer service up to Birmingham, Ala., because it's a huge Bell South hub," Mr. Noshay said. "It has a tremendous talent pool and the cost of living is lower. It was pretty much a done-deal."
The incentives, which will equal $120,000 during six years, played a major role in keeping the company, Mr. Noshay said. "The Beacon Council stepped in. We started talking about how to make it palatable to grow our business here," he said.
In addition to Miami, IDS Telcom has offices in Orlando, Fort Lauderdale and Tampa.
Executives at the Airport West-based Boston Scientific Symbiosis Corp. plan to 150 jobs in three years, Mr. Martinez said. The firm, which employs 750, plans to expand by 144,000 square feet at an existing facility, he said.
About $90,000 in tax incentives will be appropriated from local revenue funds during five years for the expansion, according to county records.
The company manufactures medical devices, among other things.
Officials at Mitsubishi Heavy Industries America plan to occupy a 10,000-square-foot facility in the Airport West area, Mr. Martinez said. The site will include a design studio for turbine engines, he said.
The company, which has headquarters in Japan, also has a heavy industries facility in Orlando, Mr. Martinez said.
Mr. Martinez said executives plan to create 30 jobs in two years with $30,000 in tax incentives just approved by the county. The incentives will be appropriated beginning with the 2002 budgets, county records show.
Mr. Martinez said expanding and retaining homegrown companies is the Beacon Council's first priority.
"Most of the job creation that happens within a community is from companies that come from within," he said. "A lot of splash is made from companies that relocate. But most job creation is done internally."
These companies, he said, are of particular importance because they represent special target industries designated by One Community One Goal the Greater Miami Chamber of Commerce's job-creation program. Target industries include high-tech, telecommunications and biomedical among other categories.
Details: IDS Telcom, 1525 NW 167th St.; (305) 621-5908; Boston Scientific, 8600 NW 41st St., (305) 597-4000.
Top Front Page About Miami Today Put Your Message in Miami Today Contact Miami Today
© Copyright 2000 Miami Today
designed and produced by Green Dot Advertising and Marketing Solutions