Gov. Rick Scott was on hand Tuesday morning as Aveo Engineering broke ground on a new hanger and office building at Flagler County Airport.
The global producer of high-technology for the aerospace industry is making a $7.5 million capital investment in facilities to manufacture LED lighting to be use on planes, helicopters, unmanned aerial vehicles and other aviation equipment.
The facility is to take the product form concept to production to distribution in Flagler County.
The company is pledging to create 300 high-paying jobs over three years. In exchange, the county is providing $500 in incentives per job created that pays at least $43,00 -- or 150 percent above the average non-executive wage in Flagler County. That could total $150,000 if all 300 jobs are created.
The company is also receiving a larger incentive package from Enterprise Florida, the state’s economic development arm.
"The most important things we can do for our families is get to work," Scott said. "Today we're here to celebrate 300 new jobs in Palm Coast."
The Aveo deal the latest in a string of successes for the Flagler Department of Economic Opportunity, which was formed just over a year ago.
"We’ve been working closely with the county and have conducted our workforce analysis over the past few months. We’ve learned that Flagler County and the region provide an amazing pool of talent from which to draw,” Aveo President Christian Nielsen said.
Over the past few years, Flagler County has consistently had one of the highest unemployment rates in Florida. Last month, 10.2 percent of those looking for work in the county were not able to find it, according to WorkSource Florida -- a rate more than 3 percent above the state average.