Hillsborough County Commission approves financial aid to companies to create jobs

11/15/12 Seán Kinane
WMNF Drive-Time News Thursday | Listen to this entire show:

Today Hillsborough County Commission approved a series of government incentives to private businesses if they create new jobs in the county. One company is called Digital Risk. They’re expected to create 1000 new jobs in Florida and 100 to 600 of them could be in Hillsborough. Ron Barton, Hillsborough’s director of economic development, said the county agreed to pay Digital Risk a base of $1000 per job plus what are called local bonuses.

Commissioners unanimously approved the compensation package for Digital Risk. All seven Commissioners also approved taxpayer funds for Depository Trust & Clearing Corporation at a base of $700 per job plus what’s called a local match.

Barton says it’s a company that already has a presence in Hillsborough but is asking for money if they add 255 new jobs at an average wage of $100,000 and retain 35 existing positions.

"That bonus concept says if the company will create more than 200 jobs up to 400 then we pay a $300 per job bonus. It also has a second tier beyond that, if you will bring 400 jobs to our marketplace, between 400 and 600. then we would pay a $500 per job bonus associated with that. The second component of that was that we wanted them to not only bring more jobs but we wanted to advance them in terms of bringing them to the marketplace so the other component you see of the bonus is that the bonus expires in December of 2014."

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