Sunday, September 27, 2020

COMMISSIONERS APPROVE ECONOMIC INCENTIVES FOR ARTHREX

The Board of Collier County Commissioners approved an agreement that will give Arthrex more than $160,000 for its planned 55,027 square foot medical device finishing facility in Ave Maria.

The agreement, which is under the Capital Investment for Diversification Incentive (CID) Program, provides Arthrex with a grant of up to $164,613.82 paid over four years as an inducement equivalent to the payment made for commercial impact fees.

Under the agreement, Arthrex will pay the total county impact fee upfront and then will receive a yearly payment of $41,153.45 for four years, which will offset that impact fee.

“This is a great example of great capital infrastructure incentives and I fully support it,” said Board of County Commissioners Chairman Tim Nance.

 

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