Monday – January 29, 2007

COUNTY INDUSTRIAL PARK GENERATES $6.5 MILLION IN PAYMENTS TO BUSINESSES -- The county Department of Economic Development reported recently the immediate economic impact associated with the county’s recent completion of the DeLand Crossings Industrial Park was $6.5 million in payments to businesses. The park on I-4 at S.R. 44 provided business opportunities for more than 40 area businesses ranging from engineering, environmental and legal services to companies engaged in the park’s construction, lighting and landscaping. More than 250 workers were employed in the development and construction of the park which has been designed to be the future home of up to 300 fulltime, higher-waged manufacturing jobs.

COUNTY IDA ISSUES $7 MILLION LOAN INDUCEMENT FOR NEW MANUFACTURER – The county’s Industrial Development Authority (IDA) has taken the first step in the authorization of an inducement resolution on behalf of NSI Intellitec Products, a manufacturer of transportation-related electronic components. The IDA’s inducement is the first of two steps in issuing $7 million in industrial revenue bonds that will be used by the company to acquire industrial acreage at DeLand Crossings Industrial Park. Additional bonds will be issued to fund the construction of a 64,000-square-foot, state-of-the-art manufacturing facility. The IDA actions will support the relocation of up to 100 high-skilled, high-waged manufacturing jobs to the new location following completion of the company’s facility late this year.

MIKRONITE TECHNOLOGIES AWARDED STATE GRANT – The county’s economic development team has announced the award of a $90,000 state grant to assist in the relocation of New Jersey-based Mikronite Technologies Group. Earlier support by the Volusia County Council helped to secure this performance-based employment incentive that will be used to encourage the relocation of up to 30 new, high-skilled, higher-waged manufacturing jobs to the Daytona Beach area. The state and local incentive will be used to reimburse the company’s qualified tax obligations such as sales tax, corporate income tax and local property and tangible taxes.

CHANGES TO EMPLOYEE HEALTH SAVINGS ACCOUNTS BENEFIT SMALL BUSINESSES – Health Savings Accounts (HSA), a recent health insurance option for small businesses combine a high-deductible health insurance policy with an account to save for qualified medical expenses such as doctor visits, emergency room charges and prescription drugs. Among the benefits for employees are reduced premiums and tax savings. Employer contributions are not included as taxable income and distributions are tax-free as long as they’re for qualified medical expenses. HSAs belong to the employee and are transferable from job to job on behalf of the employee. Contributions and earnings in federally qualified programs grow tax-deferred and can roll over from year to year. For more information on how your business and its employees can benefit from these new changes, contact your health insurance carrier for details.

DAYTONA THUNDER SEEKING CORPORATE SPONSORS, VOLUNTEERS – Daytona Beach’s indoor football team, the Daytona Thunder, is seeking corporate sponsorships from area companies to support the team’s efforts for a successful season. Game day volunteers also are needed to help the team with food and other game day preparations. To purchase a corporate sponsorship or to volunteer contact the Thunder’s Director of Sales and Marketing at 706/681-0556 or go to www.dbthunder.net

EMBRY-RIDDLE FORMS STRATEGIC RELATIONSHIP WITH COMMUNITY COLLEGES -- Embry-Riddle Aeronautical University recently developed a strategic alliance with Valencia Community College that will allow a number of community college students to transfer into bachelor's degree programs at Embry-Riddle's Orlando campus. Valencia students will be allowed to transfer into a bachelor of science degree in technical management or a bachelor of science degree in professional aeronautics at Embry-Riddle. A similar program is in place with Daytona Beach Community College.

NEWS ITEMS WANTED! – Please send your business news items to Dave Byron, Volusia County Community Information Director, 123 W. Indiana Ave., DeLand, 32720-4612, by fax at (386) 822-5072 or by e-mail at dbyron@co.volusia.fl.us.