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Foreign Manufacturing Company Agrees To Lease Century Industrial Park Building
January 19, 2023
A 50-year old foreign company is ready to lease a Century building in a town-owned industrial park, according to the FloridaWest Economic Development Alliance.
The company will set up their first domestic manufacturing and warehouse distribution facility serving the oil and gas industry in what is commonly known as the Helicopter Technology Building.
Company officials were in Century last week to meet individually with each town council member and look at any potential upgrades to the 40,000 square foot building.
A lease was prepared for approval this week, but due to an apparent clerical mistake it was not provided to council members in advance. They will vote on accepting the lease terms at an upcoming meeting.
The company has agreed to pay the appraised value of the building — $7.833.33 a month, totaling $188,000 the first two years. The lease will continue for five years with a 3% annual increase beginning in the third year. The company will accept the building “as-is” and pay all utilities, maintenance, insurance and taxes.
The town re-acquired the industrial building at public auction for less than $1 out of pocket back in August 2009, following the town’s foreclosure judgment against the now defunct Helicopter Technology company. The building has sat empty since then.
According to FloridaWest, the company plans to hire five people initially, with a goal of 10 employees by the end of the year with an average salary of $46,570 — the average wage in the Pensacola area. The company hopes to begin warehouse operations by the end of February with a forthcoming expansion into manufacturing.
The FloridaWest Economic Development Alliance is the economic development organization for Escambia County. Most details about the new company and their plans remain confidential during discussions, as is allowed and is standard in economic development in Florida.
NorthEscambia.com file photo.
Comments
5 Responses to “Foreign Manufacturing Company Agrees To Lease Century Industrial Park Building”
I would think this company would certainly hire Century residents if the residents are qualified. It would seem that the closer to the job someone lives the more reliable their attendance and punctuality would be. Question for CJ Lewis…can you cite a source for your comment “hires people not eligible to work in this country as so often now happens down in Pensacola”? I would like to follow up on this in order to identify what businesses are doing this. As to Century holding all the cards on a building that has been vacant since 2009, well, I think I would fold that hand and ask for a federal. We should be overjoyed that a new business is coming to Century and start thinking about how we can support them and future endeavors. Perhaps negatively is one reason more companies haven’t located in this area.
CW- You never know what talent you might find in Century. I am curious with all the secrecy, how would one go about applying for those five jobs?
The town council should put a clause in the lease that requires the company to give hiring preference to town residents. That will keep the paychecks in the town. The lease should also require the company to submit a monthly report to the town listing the names and addresses of all people employed at the location. Presume the lease has a termination clause. If the company hires its workforce from outside the town, or hires people not eligible to work in this country as so often now happens down in Pensacola, the town can terminate the lease. At a minimum, if the company does not hire town residents, the lease should not be renewed. Century holds all the cards here. This company is getting a sweetheart deal with an annual per square foot rate of $2.35. That’s cut rate compared to south county.
You can bet those ten employees won’t live in Century. But, this is better than nothing.
If the council doesn’t accept this they prove they hate Century. 10 jobs is better than 0.