CP Performance describes itself as “the world’s leading marine mail order superstore for all your performance boating needs,” selling parts, clothing, tools, safety equipment and technical manuals, among other items. The 30-year-old company is based near Santa Rosa, Calif., with a sister operation called Hardin Marine Products in Palm Coast.
Last fall, after talks with Flagler County’s economic development department and a $90,000 county subsidy, the company decided to consolidate and elrage its operations in Flagler, where its 15,000 square foot facility at 11 Industry Drive (which it shares with Class A Printing) will be significantly enlarged, with the addition of a 20,000 to 30,000 square foot building by December 2020.
The company told the county it was planning a $2 to $3 million investment. The consolidation would result in the creation of 20 net new jobs within five years, with an average (rather than a mean) salary of $36,000. The company will be required to submit an annual report detailing employment numbers.
On Tuesday, the Palm Coast City Council said it will approve its own economic development incentive package for CP Performance–an arrangement that also nets the city some immediate advantages in exchange.
One of those is an easement through CPO Performance’s property, off U.S. 1, to the city’s public works facility just north of the company’s grounds. The city is preparing to revamp and enlarge that facility, a three-year plan with a potential price tag of $14 million. The easement will grant the city a second entryway into the facility, from the south. CP Performance also agrees to design and build a stormwater pond at the south end of the public works facility at its own expense. But all stormwater from the CP Performance property will flow to the city pond
The city, for its part, will extend its broadband, FiberNet cables to CP Performance at its own expense and waive all planning application and permit fees related to CP’s new building construction, money the city expects to recoup through property taxes.
“They want to expand, they want to stay in the city of Palm Coast,” Interim City Manager Beau Falgout said. “There’s no check written upfront, simply offset those costs they’d normally pay when developing their space.” It’s not clear whether the new jobs will be hired locally. “Based on the salary it’s probably local talent,” Falgout said.
Last fall the county commission approved a $90,000 incentive for CP Performance, spread over 10 years, with the first $54,000 provided in the first four years. The annual amounts are equal to, or less than, the property taxes the company is expected to pay annually.
“This is a perfect example of the collaborative business environment that exists in Flagler County,” County Commission Chairman Don O’Brien, who also chairs the county’s economic development advisory council, said last fall, when the county approved the package. “We learned of the possible relocation of the company through our partnership with Bruce Page, President and Senior V.P. Laura Gilvary, of Intracoastal Bank. Helga van Eckert, and her team, were able to work with Mr. Price and the city to ensure local economic growth,” stated Donald O’Brien, Chair of the Flagler Economic Advisory Council.”
Scott Price is the vice president of CP Performance. The county, in its predilection for punning code names before the plan could be made public, had referred to its talks with CP Performance as “Project Price is Right.”