A confidential company is seeking public incentives to expand its facility in Palm Beach Gardens with 200 jobs.
“Project Falcon” is in the aviation/aerospace/engineering industry and would retain its 450 existing employees in the city, according to the Palm Beach Gardens resolution set for vote on June 2. The Palm Beach County Commission will vote on its share of the incentives on June 7.
Aerospace is a major industry in northern Palm Beach County.
The county and the Business Development Board of Palm Beach County usually reveal the identity of companies once incentive deals are finalized and they announce their expansion decisions. But at least two companies, Lockheed Martin and Chromalloy could be “Project Falcon.” Both companies have hundreds of employees in Palm Beach Gardens and have been experiencing growth.
If endorsed, “Project Falcon” would create 200 jobs with an average wage of $66,098 and make a $3 million capital investment. If the company meets its goals, it would receive $800,000 from the Qualified Target Industry (QTI) program, with $80,000 each from the city and the county and the rest from the state.
If the company expands, the BDB said the economic impact would be $652 million.
However, the company is also considering a location in Kentucky for the expansion, according to the city and county documents. Project Falcon is described as a global company.
Also at its June 7 meeting, the Palm Beach County Commission will vote on its share of a $6.14 million incentive package for “Project P2P.” This confidential technology firm, which would create 838 jobs and invest $15 million in a 210,000-square-foot facility, had its incentive offer approved by Boca Raton in April.
At the same meeting, the county commission will vote to finalize its share of the $1.36 million incentive agreement with Boca Raton-based KRS Global Bio Technology, formerly known as Project Darwin. It would create 160 jobs.
