On April 5, the Board of County Commissioners approved a Job Growth Incentive grant agreement in the amount of $136,400 with Chromalloy Gas Turbine, LLC (Chromalloy). A supplier of advanced aviation repairs, FAA-approved replacement parts, and maintenance and replacement of turbine engines, Chromalloy will locate its engineering testing center in Palm Beach Gardens.
Under the agreement administered and monitored by the Economic Development Office, Chromalloy will create 52 new jobs with an average wage of $88,000, excluding benefits, by December 31, 2013.
The county funding represents a portion of the required local match for a state Qualified Target Industry Grant and Quick Action Closing Fund.
Chromalloy’s presence will have a $15 million economic impact over a five (5) year period, generating $1 million in federal, state and local taxes, according to estimates by the Regional Economic Model, Inc.
“Palm Beach County is recognized as a leader in the state in the production, maintenance and testing of jet engines and aviation applications,” said Commission Chair Karen T. Marcus. “It is exciting to partner with state and municipal government to bring additional businesses and job opportunities in this industry to the region.”
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Government
