TALLAHASSEE, Fla. /Florida Newswire/ — On Monday, Governor Rick Scott and the Business Development Board of Martin County (BDBMC) announced that TurboCombustor Technology Inc. (TCT), an aerospace parts manufacturing company, has chosen to expand in Martin County, Florida. TurboCombustor will be adding 200 new jobs over three years and making a $16 million investment in building, infrastructure and manufacturing equipment. Following the press conference, the Governor participated in a ribbon cutting ceremony for the company’s new 120,000 sq. ft. facility.
Governor Scott said, “Today’s expansion demonstrates that our effort to grow jobs and opportunities for Florida families is working. With this new facility, TurboCombustor is expecting to hire another 200 employees, which means hundreds of jobs for Florida families. TurboCombustor is a great example of why we need to eliminate the sales tax on manufacturing equipment. As TurboCombustor expands, they intend to invest millions of dollars in manufacturing equipment alone. Eliminating this burden on manufacturers will enable more businesses to buy equipment or hire more families.”
Governor Rick Scott made the announcement in Martin County at TCT’s newly acquired facility. TCT will continue to occupy its existing 100,000 sq ft facility adjacent to the new site and create a campus like setting.
“TCT’s future promises continued growth” said Greg Bennett, President and CEO of TCT. “We look forward to serving the Martin County community for many years to come.”
The State of Florida, Enterprise Florida Inc. and the Business Development Board of Martin County worked closely with the company for over a year to secure the expansion for Martin County.
“As one of Martin County’s largest employers, I’m thrilled with their decision to create 200 new jobs, retain 400 existing employees and add capital investment to the local economy,” said Tim Dougher, Executive Director BDBMC. “It is our goal to fill existing building within the Urban Services Boundary, so this expansion was ideal for Martin County” Dougher said.
The company was offered $900,000 in incentives from Martin County, with resources set aside as part of the Job Creation Toolkit in 2010. The State of Florida offered an additional performance-based award of $3 million, bringing the total incentive package to nearly $4 million. The company has also qualified for training grants through the State of Florida. TCT had the opportunity to expand at several other locations owned by the company, but ultimately chose Martin County.
President and CEO of Enterprise Florida Gray Swoope said, “Florida continues to be a solid business base for manufacturers and aviation/aerospace companies as shown by TCT’s expansion. TCT’s growth reflects the Treasure Coast’s business-friendly climate, which is strengthening our state’s competitiveness for attracting and retaining high-value jobs.”
About TurboCombustor Technology Inc.
TurboCombustor Technology Inc. specializes in the complex fabrication of gas turbine engine parts. TCT concentrates in the production of hot-section non-rotating aircraft engine hardware, predominantly combustors and heat shields. The company has been located in Stuart, Florida since 1967.
About the BDBMC:
The Business Development Board of Martin County is the county’s official economic development organization, and Enterprise Florida, Inc. partner. More information about the organization can be found by visiting www.bdbmc.org.
About Enterprise Florida Inc.:
Enterprise Florida, Inc. (www.eflorida.com) is a partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. Headquartered in Orlando, Enterprise Florida’s mission is to facilitate job growth for Florida’s businesses and citizens leading to a vibrant statewide economy. In pursuit of its mission, Enterprise Florida works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.