Lee County continues to court unnamed natural pharmaceutical company

Lee County Commissioners on Tuesday morning agreed to go forward with negotiations with an unnamed natural pharmaceutical company interested in locating its headquarters in Lee County.

Multiple grants would be offered to the company, about $2 million from the county's FIRST program, the $25 million Financial Incentives for Recruiting Strategic Targets fund to lure new businesses to the county.

In addition, the company would apply for a $4.7 million from the state with a 20 percent match from the county, about $600,000.

The company proposes to bring 500 jobs in five years and receipt of the FIRST grant hinges on the progress of that goal.

Companies that receive this county grant sign agreements that include provisions to return funds if jobs are not created.

Commissioners will have another opportunity to approve a final agreement should the company select Lee County for its headquarters.

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