Project Continental – Palm Coast Data Stays in Palm Coast
Decision will save 1,000 existing Palm Coast jobs and add 700 new ones.
Palm Coast, Florida – October 10, 2008 – In a much anticipated announcement, officials from the State of Florida, the City of Palm Coast, Flagler County, Enterprise Flagler, and Palm Coast Data revealed the identity of the "secret company" in Project Continental. No surprise there. That the company was Palm Coast Data was never in doubt. But the big question – Does Palm Coast lose 1,000 local jobs or gain an additional 700 – was not answered until today. Palm Coast Data says it will remain in Palm Coast, preserving 1,000 existing jobs and adding 700 new positions. All but a handful of the new positions willt be filled from the local labor force.
Palm Coast Data’s parent Company, AMREP Corporation [NYSE: AXR] is consolidating the Palm Coast Data and Kable Fulfillment Services at its Palm Coast location. The combined entity will operate with a new logo under the Palm Coast Data name. The move will increase local employment by 700 over the next two years. Palm Coast Data has immediate expansion plans for 200,000 square feet of new construction on land it already owns next to its existing facility. Total capital investment is estimated at $20 million.
Initially, the company had two other sites under consideration. John Meneough, president of Palm Coast Data, gave four reasons why the Palm Coast location came out on top:
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Palm Coast Data has the single largest magazine and membership client base within the company and twice the number of employees in one location.
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The Palm Coast area has an abundant workforce readily available
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The company owns its current facilities and has the land needed to expand
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The company required immediately available space. On this point alone, Palm Coast would probably have lost, but the City of Palm Coast’s offer of the existing city hall tipped the balance.
"These factors, combined with the competitive incentives offered by Florida and Palm Coast, as well as easy access to the regional, national and global marketplace, all played a key role in the decision to unify operations," Meneough says.
The combination of the Palm Coast Data capital budget, along with the incentives and investments from the State of Florida, Enterprise Flagler and the City of Palm Coast, will be directly and indirectly responsible for generating $174.6 million in annual economic output throughout Flagler County within three years. Total direct economic output is expected to be $123.8 million annually upon reaching the full employment estimates.
The City of Palm Coast plans to lease 21,000 feet of space within City Walk, a new but under-occupied commercial project on Cypress Point Pkwy. As an added benefit, the move will reduce the present oversupply of local commercial space and make the remaining space in City Walk more attractive to potential merchants.
There are two very important stories to be told. The first, of course, is that Palm Coast Data’s decision will have a significant and long lasting effect on the Palm Coast economy. The second story is the one about how, for the first time, local officials (city and county), business leaders, and economic development specialists pulled together as one. Enterprise Flagler, the City of Palm Coast, Flagler County, Enterprise Flagler, Enterprise Florida, and the State of Florida (all the way to the Governor’s office) worked together to make this happen. Enterprise Flagler’s Tom Cooley and Palm Coast city manager Jim Landon deserve special mention for their efforts.
Great news for Flagler!
This is fantastic. I have known for quite some time that this was happening but was ordered not to say anything. The reason for the secrecy was that the other two locations needed to be notified that they were going to lose their jobs, not an easy task in a time of economic crisis. Before people start talking about $8.00 an hour jobs, let me say that a majority of the people that will be hired will make well over $8.00 an hour. This is great for Flagler County. I applaud everyone that was involved in making this happen for the people that work at PCD.
Palm Coast
I think this SUCKS! Do you have any idea how many people are being put out of work? Kable’s was originated in Mt. Morris and should STAY in Mt. Morris. I hope a hurricane flatens Palm Coast!