Piper Aircraft, Inc., the State of Florida and Indian River County today announced an agreement that will keep the general aviation manufacturer’s headquarters and manufacturing facilities in Indian River County.
“Florida is a state that leads the nation in encouraging aviation, and Piper Aircraft is one of general aviation’s uncontested leaders,” said Florida Governor Charlie Crist. “This agreement is an investment in Florida. It represents thousands of jobs and hundreds of millions of dollars in wages, economic development and other contributions for Indian River County, surrounding local communities and our state.”
“We are pleased and honored to announce our decision to remain and expand our operations in Indian River County,” said Piper President & CEO James K. Bass. “Our decision is not just a vote of confidence for our hometown, it is also a commitment by Piper to Indian River County and the State of Florida.”
The decision to stay came after an extensive site selection process that addressed fundamental issues and needs that Piper cited as vital in remaining competitive and prospering in what is a very challenging industry.
Indian River County Administrator Joseph Baird underscored the value Piper has brought to Indian River County over the 50 years it has called Vero Beach home. Citing an economic impact study conducted by The Washington Economic Group in March 2007, he said that the joint county and state incentive package is an investment in Piper, which will return much more to the community and the state.
“The Washington Economic Group’s study showed that Piper contributes $518 million per year to our local economy,” Baird said, referring to the study commissioned by the Indian River County Chamber of Commerce. “That investment is made up of the millions of dollars the company pays in taxes and to local suppliers, as well as the huge ripple effect that comes from Piper employees who spend their paychecks locally in our stores and restaurants and contribute to our community organizations and charitable causes.”
In signing the agreement, Piper accepted a $32 million incentive package from the state and county – to be paid out over three years – and made a commitment to remain and grow in Indian River County. The agreement ended a two-year, site-selection review process that in recent months had narrowed the field to three locations, including Piper’s current site in Vero Beach, Fla.
Bass said Piper’s decision factored in many criteria and ultimately concluded that remaining in Indian River County was the best choice for many different reasons.
“One of the most important factors in our decision to stay has been our workforce,” Bass said. “Indian River County and its surrounding communities are home for the vast majority of the men and women of Piper. The incentive package demonstrates a commitment to making our community a place where business and industry not only want to stay, but where others will seek to relocate.
“We have a skilled workforce and many talented people in our county and throughout the state,” he said. “By helping Piper stay and continue to invest in Indian River County, state and local officials are sending the message that Florida is a friend of business and industry. To that end, I look forward to encouraging businesses and industries to move to Indian River County and the state.”
Click here for the full announcement…
