Florida marine companies in line for tax breaks - Trade Only Today

Florida marine companies in line for tax breaks

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Plans to provide county tax breaks to two boating companies seeking to expand in Brevard County, Fla., moved forward this week.

The Brevard County Commission unanimously voted to qualify Bertram Yacht Inc., of Miami, and Diamondback CNC LLC, of Cocoa, as eligible businesses under the county’s tax abatement program. That’s a requirement for the county to consider approving tax breaks for the companies, a vote that could come as early as April 10, the Florida Today newspaper reported.

Bertram is considering moving its headquarters and production operations from Miami to a Merritt Island site. The plant would employ 221 people and create 197 spinoff jobs. Bertram is seeking a county tax break totaling $1.92 million over a 10-year period, the newspaper reported.

After the vote, Bertram president Alton Herndon told the newspaper that two other communities, which he declined to identify, remain in the running for his plant, which makes boats used for deep-sea fishing that are 41 to 80 feet long and range in price from $1 million to $7 million.

Diamondback wants to expand its current facility, adding 35 jobs to its current 25. The expansion also would lead to 27 spinoff jobs. Diamondback is seeking a county tax break totaling $132,426 over a 10-year period.

The expansion would allow Diamondback to make airboat parts for its sister company and a larger variety of firearm parts.

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