Boca Raton considers $500K incentive for mystery tech company relocation

Описание: A mystery tech company could be headed to Boca Raton, as city leaders consider offering up to $500,000 in local incentives to bring the company to the area.

City Council is scheduled to take up Resolution No. 004-2026 during its meeting Tuesday night, which would recommend approval of an economic development agreement. The company’s identity is being kept confidential during negotiations and is currently referred to as “Project Vernon,” a placeholder name used under state law. City officials say the name will be released at a later stage in the process.

Under the proposal, the California-based company would lease office and research and development space at the Boca Raton Innovation Campus.

City documents show that if the company relocates, it would create at least 100 new full-time jobs over the next five years, with average salaries of at least $125,000. Any city incentives would only be paid if those job and salary benchmarks are met.

The company is described as a high-tech firm focused on energy-efficient advanced computing, software, and services. While it is currently based in California, it has also considered Tennessee and North Carolina for its headquarters before eyeing Boca Raton. The project is also being considered for state-level incentives that could total millions of dollars if the relocation moves forward.

Read the full story here: https://cbs12.com/news/local/boca-rat...
_______________
Stay up to date with our social media:

WPEC on Facebook:   / cbs12news  
WPEC on : https://x.com/cbs12
Subscribe to WPEC on YouTube:
   / @cbs12newswpec  

WPEC Daily News Digest:    • Плейлист  

WPEC CBS12 is South Florida's source for local news, weather forecasts, sports and community events spanning West Palm Beach, Port St. Lucie, Fort Pierce, Stuart, Vero Beach, Okeechobee, along with the rest of the Treasure Coast and Palm Beaches. We are TheOneToTurnTo.

For more information, visit https://cbs12.com/

Have a tip? Email us at [email protected]

Call the Newsroom: 561.844.1212

Have a video or photo you want to share? Upload it to cbs12.com/chimein/

WPEC is a FL based station and a CBS Television affiliate owned and operated by Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today.

#CBS12NEWS #WPEC #WestPalmBeach #SouthFlorida #News #BreakingNews