Agreement sets stage for Danfoss Turbocor expansion

No mention of FSU, but this is was due to FSU research.

Agreement sets stage for Danfoss Turbocor expansion

“They have over delivered on their commitments,” Tallahassee Mayor Andrew Gillum said.

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Danfoss Turbocor plans to expand after local officials signed off on the company’s request to take advantage of a purchase option empowering the company to buy its building in Innovation Park.(Photo: Melina Vastola/For the Democrat, Melina Vastola/For the Democrat)Buy Photo

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Danfoss Turbocor plans to expand after local officials signed off on the company’s request to take advantage of a purchase option empowering the company to buy its building in Innovation Park.
Nearly a decade ago, the city and the Leon County Research and Development Authority assembled a lucrative package to recruit the manufacturing company to Tallahassee for a 20-year lease, making it the largest incentive package in the city’s history at the time.
The authority provided 9.2 acres of land. The city pitched in nearly $1.6 million cash for relocation costs and a $4.8-million loan toward the construction of the 65,000 square-foot building, now appraised at $3.6 million. Danfoss Turbocor, which has paid the city back in full, was tasked to create 150 jobs within the first five years. By its fourth year, the company created 168 jobs with an average salary of $63,739.
“They have over delivered on their commitments,” Mayor Andrew Gillum said of the company that builds high-efficiency compressors. "It’s not just about the company succeeding. This is about developing the manufacturing sector in Tallahassee."
It also embodies partnerships local government, the Greater Tallahassee Chamber of Commerce and the Economic Development Council of Tallahassee/Leon County encourage.

Buy PhotoHere's an example of the high-efficiency compressors Turbocor builds. (Photo: Melina Vastola/For the Democrat, Melina Vastola/For the Democrat)

“All of us agree that diversifying Tallahassee's economy is priority one,” Gillum said. “The best way to do that is by bringing high-tech, skilled manufacturing to our community. And that’s exactly what Danfoss Tuborcor represents. The future economy of Tallahassee hinges on the success of companies like Danfoss Tuborcor.”
As part of the partnership, the city and the authority were required to sign off on the purchase option in the lease agreement. The authority approved the request in August; the city followed suit on Wednesday.
The decision sets the stage for the company to build an additional 50,000 square-foot Application Development Center, which is slated to bolster more jobs. Details are slated to be released in the near future.
“They are proof of what we have been talking about in the last few years,” Leon County Commissioner Kristin Dozier, immediate past chairman of the Leon County Research and Development Authority.
“A stronger connection between our businesses and researchers will help companies grow and create all types of jobs for all types of skill levels."
Contact TaMaryn Waters at tlwaters@tallahassee.com or follow @TaMarynWaters on Twitter.