Lee County awards $4M to Fortune 500 company

Fortune 500

Fortune 500

— Lee County commissioners this morning unanimously approved a $4 million incentive award agreement between the county and an unnamed Fortune 500 company that is considering relocating its corporate headquarters to Lee.

The money offered in the agreement would come from the Financial Incentives for Recruiting Strategic Targets fund, which commissioners created in 2008 to attract high-wage businesses.

Florida law provides confidentiality to private corporations during certain situations, which means neither commissioners nor the public know the company's real identity.

The company - known as "Project A" to everyone except a small group of people who are working on the negotiations - would commit to employ up to 700 people at an average wage of $102,000, and it would build and equip a 300,000-square-foot corporate headquarters building at a cost of about $68 million, documents said.

"Project A" is deciding between Lee and another location, and some hope this incentive - coupled with about another $12 million that the state may offer the company - will help convince it to pick Southwest Florida.

The company could announce its final decision in mid-May, said Jim Moore, director of the Lee County Economic Development Office.

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