Lake County Commission approves business incentives for two expanding companies
Release Date: April 20, 2010
TAVARES — The Lake County Board of County Commissioners approved at its meeting Tuesday incentives for two expanding companies: First Class Air Repair of Groveland and Restor Telecom, Inc. of Leesburg.
“They’re both high-tech companies in different industries,” said Cary Pierce, Business Development Coordinator of the Lake County Department of Economic Growth & Redevelopment. “The thing they have in common is these two companies are growing by leaps and bounds.”
Commissioners approved a High Value Job Creation (HVJC) Program Award of $26,000 to First Class Air Repair for the creation of seven qualifying positions, which the salaries are at least $17.05 per hour or $35,466.00 annually or higher. First Class Air Repair is an expanding aircraft-component repair business and the company falls under the recently amended targeted industry of aviation. They are investing about $500,000 in new equipment and $100,000 in new construction.
The Board also approved a HVJC Program Award of $30,000 to Restor Telecom, Inc. for the creation of 12 qualifying positions. Restor is a manufacturing company that repairs, calibrates and refurbishes electronic equipment. The expanding company is investing about $300,000 in new equipment.
“Six years ago Restor Telecom had 21 employees,” Pierce said. “By the end of the year, the company expects to employ 125 individuals. Successful businesses, such as First Class and Restor are helping to diverse the economy of Lake County.”
For more information about the Lake County Department of Economic Growth & Redevelopment, call (352) 343-9866 or log on to http://egr.lakecountyfl.gov.
Lake County media contact:
Public Information Coordinator
Office: 352-343-9603; Cell: 352-455-0445