Business & Tech
City Hoping To Bring Hundreds Of New Jobs To Temple Terrace
The city council approved a package of incentives they hope will lure a new shared services center to the city.
The city is hoping to lure 500 new jobs to Temple Terrace, and it is backing it up with cash.
The Temple Terrace City Council on Thursday night, Sept. 8, approved $150,000 in incentives to encourage an unnamed company to move to the city.
The business prospect was identified by the Tampa Hillsborough Economic Development Corporation.
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The expectation is that the economic benefit of having the new company move into the city will more than offset the incentive fee.
“It’s a shared services center,” said City Manager Kim Leinbach, who could not reveal the name of the company under state law.
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The center would house IT, accounting, human resources and payroll services and could occupy 100,000 square feet at full capacity, Leinbach said.
The company’s estimated initial capital investment would be $5 million with “substantial operations” starting in 2012, the city manager said.
The company would start with 250 jobs with plans to add a further 250 jobs over the next three years.
“We are looking at the company making a decision by mid-September with a lease signed by December this year,” Leinbach said.
Temple Terrace will face some tough competition. Tampa, New York and Georgia are also trying to convince the company to locate the center in their area.
“It’s a very competitive environment our council has stepped up and offered those incentives," Leinbach said. "It would be a great boost to the area if they came here.”