County approves $50,000 in incentives for Coastal Cloud

Posted by Ryan Ropero on Feb 18, 2013 1:00:00 PM

The County Commission on Monday unanimously approved a $50,000 incentive package for Coastal Cloud, a cloud-based solutions company that provides analysis, programming and training to small and large companies seeking to expand or optimize operations.

Incentives will be paid at the end of the year when proof of performance is submitted, according to Helga Van Eckert, executive director of Flagler County’s Department of Economic Opportunity.

The incentive package is as follows: $500 per job created, which will be paid annually, on a prorated basis, over the course of four years ($125/year/job) for a total cost of $50,000.

Coastal Cloud anticipates hiring 15 employees in its first year, 35 in its second and 50 in the third.

Coastal Cloud’s goal is to bring cloud-based solutions to businesses both nationally and internationally, and will start by building on the client base the IT consulting service Graphene already has, said Sara Hale, a managing partner of Coastal Cloud. Coastal Cloud will use online services and self-developed tools, to generate custom reports for clients, allowing them to track customers and successes.

The average salary of the new jobs at Coastal Cloud will be $46,500, which is 150% higher than the county’s average annual salary, according to county documents. Additionally, the anticipated capital investment is $3.15 million, which includes the construction of a new facility and new equipment purchases. Coastal Cloud is expected to construct its facility by the end of year No. 2.

Several community leaders spoke Monday night in support of the incentive package, including Rebecca DeLorenzo, who was announced as president of the Flagler County Chamber of Commerce & Affiliates on Thursday.

“Coastal Cloud’s decision to open its doors in Flagler County is a huge win (for the county),” DeLorenzo said.

Click here to read the full Palm Coast Observer article here. 

Topics: News, Press Coverage, Colorado

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