Port St. Lucie project could create 500 jobs, movie stars
August 25th, 2009 by TCPalm.comPORT ST. LUCIE — The City Council Monday night unanimously agreed to move forward with purchasing 15 acres from Tradition Outlet LLC for $10 million, a move that puts up half the state’s contribution to help a Hollywood executive set up a digital production studio.
The studio could create up to 500 jobs and bring Florida State University’s Film Studies program to the Treasure Coast.
The package includes the local governments building a 150,000-square-foot studio for Hobe Sound-based Wyndcrest Holdings, a private investment firm focused on entertainment and Internet technology headed by Jupiter Island resident John Textor.
Textor is co-chair of the California-based company Digital Domain, which is an award winning visual effects and animation company.
Council members praised the project, saying it would create future employment opportunities for area high school students and students studying film at Indian River State College.
City Manager Don Cooper said the project would create jobs with an average annual salary of $65,000. With 500 jobs at an average salary of $65,000, the average payroll, Cooper said, has an economic annual impact of between $150 million and $200 million.
“We have a long way to go before this project becomes reality,” Cooper said, noting that this is just the first step toward approving several agreements. Cooper said the city could tie the creation of 500 jobs to the contract in ensure accountability.
Among terms of the deal released Monday:
- The state will provide $20 million in incentives.
- The city will provide cash grants to Wyndcrest of $10 million.
- The city or St. Lucie County will get the currently unidentified amount of money needed to build the studio.
- The city shall amend the developers agreement on Southern Grove to remove the requirement of 150 acres for a university.
- The studio would replace the once planned 350,000-square-foot Tanger Outlet on 15 acres within the Southern Grove area, which is the south half of Tradition, Core Communities’ massive master-planned community west of Interstate 95.
Cooper said the city’s contribution would not use money from property tax revenues.
City Councilman Jack Kelly asked where the city’s contribution would come from. Though Cooper said the Economic Development Council of St. Lucie County asked him not to talk about funding, he said it would come from a combination of economic stimulus recovery bonds and money the city required a developer allocate for another interchange between Gatlin Boulevard and Becker Road.
City Council member Michelle Berger said prior to the meeting the money for Wyndcrest will come from several South Florida home builders, who agreed to put up $50 million in 2004 for road improvements and land in exchange for western annexation. Of that money, $20 million that had been slated for the western expansion of Becker Road would be used for Wyndcrest, Berger said.
“It doesn’t make sense to build the road if we’re not going to build that industrial area,” Berger said. “So how about we fill areas that are currently open, fill them with long-term jobs and give us more opportunities for our people.”
In an Aug. 20 memo to the City Council, Cooper wrote that “the possibility of (Wyndcrest) coming forward and the development of a Florida State University Film School program, which is a distinct possibility as a result of that location, combined with the 500-plus jobs, more than compensates for the potential loss of the 150 acres.”
The developer’s agreement on Southern Grove requires Core for a decade — starting in 2004 — to set aside 150 acres that a college or university could purchase for expansion.
Economic leaders in St. Lucie County have urged the business community to lobby the city and county to support the deal as a means to offset opposition that has appeared on the Internet by mostly anonymous commentary after the project was announced July 30.
Victoria Huggins, a government watchdog who ran for City Council last year, questioned how the city could talk of layoffs in the police and parks departments, while taxpayer money goes to a private enterprise.
“If they have $10 million in cash that they’re willing to grant to Wyndcrest, why can’t they support our guys on the street?” Huggins said. “It affects our quality of life when they have to reduce our police officers. And here they’re entertaining the notion of doing this.”
City officials said Monday night the money could not be used for operational costs, including to fund police officer positions.
Berger said the project will create jobs and help the economy both long and short term.
“It’s easy to sit and do nothing, it’s not easy to make change,” Berger said.
By Alexi Howk, Jim Turner
Tags: animation, bond, business, cash, college, communication, contract, development, digital, economic, Economy, employment, Florida, government, grants, holdings, Internet, jobs, layoffs, loss, losses, money, police, production, property, roads, salary, Schools, stimulus, students, taxes, Tradition, wyndcrest
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August 27th, 2009 at 9:03 am
cooper said in the town hall meeting the city was short 11 million for the coming years budget and thats the reason our taxes were raised, communication tax created to tax each household every cellphone and household cable, raised the garbage bill, raised the storm water fee, raised the fee per household for street lights, I am disabled and even with my 50500 deduction because of the raises in ad valorem taxes, my tax bill will be even higher this year.so if you are not using tax money where are you getting the ten million to buy this property? 500 jobs? i’m sure they will bring thier own people to start here. waste of money right now and poor city planning as usual,like the crosstown that ends in a two lane residental street with no where to go, come on election.
January 9th, 2010 at 9:26 pm
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