Modularity. This quality, along with portability and affordability, is often found in objects as small as an electronic gadget or as large as a piece of office furniture. But what about even larger objects? What about … buildings? In fact, modular buildings are produced by a company called Royal Concrete Concepts. And the company itself is modular, in a sense, considering it may, like many companies, disperse its operations and expand where it pleases.
Royal Concrete Concepts had a choice when it came time to expand its operations. And it chose to expand in Florida’s Okeechobee County, making a capital investment of more than $20 million. This figure includes real estate investment, construction costs for the new manufacturing facility, and the purchase of new manufacturing and business equipment. The company’s new modular building manufacturing facility is expected to create more than 1,300 new high-wage jobs in rural South Florida.
The average pay for employees of Royal Concrete Concepts is about $40,000 per year. This average exceeds the Okeechobee median household income by approximately $10,000 per year. To help secure these jobs for Okeechobee, state and local authorities assembled an incentives package that tapped the Qualified Targeted Industry Tax Refund Program and the Development Transportation Fund.
“This is a wonderful milestone for Royal Concrete,” said Wally Sanger, president of Royal Concrete. “We’re thrilled with this expansion, and so proud of the positive impact we have on the region.”
“With its convenient location and access to rail lines, Okeechobee County is the ideal location for Royal Concrete’s new manufacturing facility,” said Lynn Topel, executive director of Florida’s Heartland Rural Economic Development Initiative. “Royal Concrete is precisely the type of high-wage, high-value company that we’re committed to helping, and we’re excited to share in the success of their expansion.”
