Jabil Circuit Plans New $52M Headquarters
PCB News
(CarlCronanis editor ofRealEstateFlorida) ST. PETERSBURG, FL-Jabil Circuit Inc., a locallybasedelectronicsmanufacturer, announced over the weekend that itplansto build a$52-million facility on 100 acres along Interstate275.The newscomes as Jabil commits to keeping its headquartershereafter winningnearly $27 million in state and localeconomicincentives.
Additional details about the new building werenotimmediatelyavailable Monday, pending future city andcountygovernmentapprovals, though the company did release anarchitect’srendering.Jabil is currently based at a site on MartinLuther KingJr. Streetin St. Petersburg, while its new headquarterswill be atthenorthwest corner of I-275 and Gandy Boulevard.
“We intend to proceed with a plan to build a newmanufacturingplantand consolidate corporate functions in a singlelocation,”TimothyL. Main, Jabil president and CEO, stated in arelease.Agroundbreaking ceremony is planned later this year,withcompletionof the new headquarters scheduled by 2012.
Jabil, which posted revenue of $12.3 billion in fiscal2007,hadbeen secretly negotiating an incentive package for muchofthisyear. The package announced Friday includes $20 millioncashfromthe State of Florida, $2.9 million in job creationandtraininggrants from Pinellas County and $1.7 million in taxbreaksandother incentives from the City of St. Petersburg.
State government leaders have pledged another $2milliontowardimprovements to Gandy Boulevard near the new plantsite. Thiswillsupplement $11 million previously committed to GandyBoulevardbySt. Petersburg from impact fees and federal grant funds.
“The company’s contributions to our businesscommunityhavetranslated into high-value jobs, innovative solutionsandmanyother benefits to the state, as well as the TampaBayregion,”Florida Gov. Charlie Crist, who is from St.Petersburg,said in aprepared statement. “I welcome the successesthat are sureto comefrom Jabil’s expansion.”
Jabil, which has operated in St. Petersburg since 1983,saysithas increased its personnel in the county by 28% over thelastfiveyears, to 1,880 employees. It intends to add another 850bythetime its new facilities are completed, even thoughitannouncedpink slips for 120 workers just last week.
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