The Lee County Economic Development Office recently announced that the Board of County Commissioners approved $1 million in funding from the FIRST Initiative incentive program for the local expansion of Source Interlink Companies Inc., an integrated media, publishing, merchandising and distribution company.

Source Interlink will create or transfer 350 positions from its other locations to its Bonita Springs headquarters, where its finance, human resources, IT, tax and senior executive functions are currently located. The consolidation is expected to increase the number of full-time employees in Lee County from 260 to 610 within two years.

Prospective applicants should check Source Interlink Companies Web site for position opening announcements since the company is not yet accepting application for the new positions.

The project is anticipated to have $334.6 million in economic impact on the community over five years. The average employee wage will be 179 percent of the Lee County average.

“We are very pleased the Lee County Economic Development Office was able to coordinate a mutually beneficial agreement with such a quality company as Source Interlink in south Lee County,” said Lee County Commission Chairman Ray Judah. “Lee County certainly benefits from retaining more than 200 jobs and the addition of another 350 value-added jobs to the local economy. In addition, having a company commit to stay and to grow within the county sends a strong message to other companies contemplating a move and/or growth in Lee County.”

The $25-million FIRST Initiative incentive program, which is performance-based, was created to encourage business growth and community development.

“We are excited that Source Interlink is expanding its Lee County operations,” said James W. Moore, director of the Lee County EDO. “The FIRST Initiative program gave us a strong competitive advantage over other locations. This incentive further strengthens the relationship the EDO has been building with Source Interlink since 2000, when the company first considered opening a location here, and through two subsequent expansions.”

“Our partnership with Lee County has been a principal factor in our decision to consolidate operations to the Bonita Springs World Headquarters,” said Douglas Bates, Chief Administrative Officer of Source Interlink. “We evaluated several consolidation alternatives, but the FIRST Initiative program made expansion of operations in Bonita Springs the logical choice.”

The Economic Development Office of Lee County works to attract new and diversified businesses resulting in high-wage, high-skilled jobs; retains and encourages the expansion of existing businesses; and improves the overall business environment in Lee County.

Additional information about the EDO and the FIRST Initiative is available by calling 239-338-3161 or online at www.LeeCountyBusiness.com.