Commissioner Murman quoted in this Tampa Bay Biz Journal article on Citigroup:
Morning Edition
Murman: Hillsborough commissioners send message with incentives vote
Feb 19, 2015, 5:48am EST
Print Editor- Tampa Bay Business Journal
Hillsborough County’s approval of more than $3.5 million in potential incentives to three companies considering boosting their local workforce sends an important message nationwide, according to the chair of the Board of County Commissioners.
“We are dead serious about economic development in Hillsborough County,” said Commissioner Sandy Murman, after the votes.
The board unanimously approved a package of incentives, totaling $3.4 million in county funds, for Citigroup (NYSE:C), which has proposed adding 1,163 jobs and investing $90 million in capital improvements at its Brandon campus, where it currently has 5,173 employees.
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Also approved was $60,000 in tax refunds for an unidentified logistics operation in the county that would create 100 new jobs, and $78,500 for a Tampa financial services firm – also not named – that plans 157 jobs.
Each proposal would draw state incentives as well.
Critics of tax incentives argue the money would be better spent on helping homegrown startups. They say those companies are more likely to remain rooted here and create not just jobs, but wealth, as they grow.
Murman said the jobs Citi is talking about – with an average wage of $75,000 – provide a huge return on investment in a relatively short period of time. Citi would have to create the new jobs by the end of 2017.
“You’ve got more people working who can buy houses and cars and plow money back into the economy and help the economy grow,” she said.
Incentives are just one part of the attraction, she said. Developable land is key, as is a well-trained workforce.
“We need to make sure we fill those jobs with people from our area, make sure we have the educated workforce coming out of University of South Florida, University of Tampa, Hillsborough Community College,” she said. “We are creating more ways to keep our young talent in this area.”
Word about deals like the ones approved Feb. 18 gets around among companies.
“They talk in the financial marketplace, the IT marketplace, and if they have a great experience, they’ll say ‘let’s look at Tampa and Hillsborough County,'” Murman said.
