Studio Media Group, an Irish company, today acquired Palm Coast Data from Pennsylvania-based Amrep Corp., the third time in 17 years that one of Palm Coast’s largest private employers is changing hands.
palm coast data
Palm Coast Data’s revenue has been solid, with continued addition of clients, and its parent company has been reporting modest but consistent profits, in contrast with earlier years.
A bomb scare briefly interrupted the evening shift Monday Palm Coast Data as employees from the building that contains the company’s call center were evacuated.
In the most intimate and detailed look at Palm Coast Data from the inside in 10 years, the company is less than half its former size but producing solid revenue, projecting optimism, and hiring.
Documents obtained by FlaglerLive and disclosed for the first time show the extent of Palm Coast Data’s difficulties and some of Palm Coast government’s own deception along the way.
Palm Coast Data had won $3 million in state incentives in 2008, when it also got $500,000 from Palm Coast and Flagler County, on promises of 700 new jobs that never materialized.
The losses bode poorly for Palm Coast Data, which at one point a decade ago was the city’s largest private employer. Its parent company’s revenue is now almost synonymous with its own, and it’s a fifth of what it was 10 years ago.
Parkside Realty Group’s Margaret Sheehan Jones brokered a $450,000 transaction for Bunnell’s D & K Automotive and Tire Repair and Palm Coast Data added Fort Worth, Texas Magazine to its fulfillment stable.
Designs for Health, a nutritional supplement and vitamins company, will get a $25,000 county subsidy to expand from Hargrove Grade to Commerce Boulevard in exchange for 50 jobs and a $3 million investment in the old Palm Coast Data building complex.
The white powder was discovered just after 11 a.m., and Palm Coast Data issued an evacuation order at 1:39 p.m. The response from St. Johns County’s Hazmat team is ongoing.