LYNN HAVEN, Fla. (WMBB) — The City of Lynn Haven is looking to boost the economy in their area and at Tuesday’s city commission meeting, they took a step in the right direction.
Commissioners approving a $65,000 tax exemption to ACMT South LLC., who plans to bring in 105 jobs to the area.
“For the city of Lynn Haven and Bay County, this is a game changing project,” said Bay EDA president Becca Hardin.
ACMT South LLC. will take over the old Honeywell building and will use the new renovated space to produce high tech aviation parts. The company says that each job will pay around $45,000 a year, which is a 115% increase from Bay County’s average salary.
“They are bringing in a 25 million dollar investment to our economy plus providing jobs so our kids can stay here and young people who need jobs will have those jobs,” said Lynn Haven Mayor Margo Anderson.
But, some Lynn Haven residents voiced their concerns, as the company will have a $65,000 tax abatement for the next 10 years.
However, Hardin says ACMT South will need to meet certain standards.
“There is not tax abatement until they reach a certain threshold of the jobs they create,” said Hardin. “It is an annual audit to make sure that they meet those thresholds before they are offered that incentive.”
Commissioners say this money will be made up in other ways and will have an overall positive impact on the community.
“Were not going to give too many breaks to someone who is not paying it someplace else,” said Anderson. “So the residents and workers are going to be picking that up as they live and work and play and we hope stay here forever in Lynn Haven.”
The company plans to have 20 to 30 of these jobs filled by January 2020.