Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Board approves incentive package for Monarch Pharmaceuticals’ Fort Pierce expansion
Summary
The commission approved an ad valorem tax exemption and job growth grant framework for Monarch Pharmaceuticals, a veteran‑owned manufacturer planning an expansion in the Renaissance Business Park that the county says will add 11 jobs and roughly $2.0 million in capital investment.
The Board approved a performance‑based incentive package to support Monarch Pharmaceuticals’ proposed expansion in Fort Pierce.
Economic development staff presented the company as an SBA‑certified veteran‑owned manufacturer producing OTC and specialty topical products. The project includes an estimated $600,000 in facility investment and about $1.4 million in machinery and equipment; Monarch expects to create 11 full‑time positions at an average wage above the county mean.
Requested assistance includes an ad valorem tax exemption phased by year and a job growth investment grant contingent on verified capital and job performance consistent with county policy for targeted industry job creation. The board voted unanimously to approve the incentive resolution.
Next steps: staff will finalize the incentive agreement and monitor job and investment verification tied to grant payments per county policy.
