Lee County Office of Economic Development announces local and state assistance for Paramount Transportation Logistics Services, LLC
The Lee County Office of Economic Development announced today that the county and state have approved financial incentives for Paramount Transportation Logistics Services, LLC to support the location of its corporate headquarters and service center in Fort Myers.
The assistance will help the company create 100 new jobs in Lee County, officials said.
Paramount is a full service supply chain management, transportation and logistics company. The firm offers a complete range of logistics consulting services, providing advice and assistance to businesses in inventory management, warehouse utilization, freight and tariff rate consulting, distribution networks, and transportation of goods and materials. The company currently has operations in six states including Florida. Lee County will house their corporate officers, administrative personnel, freight intermediaries and transportation management consultants.
The total economic impact of the project to the community is approximately $13 million annually, according to FGCU?s Regional Economic Research Institute.
As part of the project, Paramount will receive Qualified Tax Incentive from the state of Florida and Lee County worth $300,000. Of the $300,000 in QTI incentives $240,000 or 80 percent comes from the state and the remaining 20 percent, or $60,000 match comes from the Lee County incentive program.
Paramount also will receive an additional $300,000 from Lee County?’s new $25 million incentive fund.
?“In today’?s economy, it is rare for a local government to have the capability of offering cash incentives such as Lee County does with its FIRST Initiative,”? said James W. Moore, director of the Lee County EDO. ?“Through prudent planning and conservative financial management, county leaders have positioned our community to have a strong competitive advantage in the recruitment of high-value employers.?”
The Lee County Economic Development Office has been working with Paramount, aiding the company’?s decision to locate to the area. Paramount chose Lee County after considering several other areas throughout the United States.
“We are excited to welcome a company of this caliber to our community,”? said Jim Moore, director of the EDO.
“?We are impressed by the growing economy and positive business atmosphere in Lee County,”? said Donald R. DeLuca, president of Paramount, “?and we?’ve decided that it will be a great base for our company headquarters and service center. Thank you to the Lee County Economic Development Office, the Governor?’s Office and Enterprise Florida for helping to make this move into the Southwest Florida region possible.?”
DeLuca also stated, ?Lee County offers a quality workforce, strong infrastructure and high quality of life. After comparing several sites nationally, these factors are what ultimately brought us here.?
Source: Lee County Office of Economic Development