Navis is considering expanding its operations in response to rapid growth. The company currently has 199 employees worldwide and is considering Orlando as their eastern regional headquarters for the business services operation in order to
be closer to their east coast client base and provide an opportunity to expand their international client base.
If the Qualified Target Industry (QTI) program incentive is made available to the company, Navis will create an additional 67 new-to-Florida jobs by December 31, 2016, paying an annual average wage of $48,686, which is at least 115% of the Orange County annual wage. The average value of benefits that will be available to employees is $11,400, which includes health and dental insurance, short term and long term disability insurance, and 401(k) contributions. Navis’ total capital investment is estimated to be $404,600 in renovations and equipment. In addition to the City of Orlando, the company is considering Oregon, Arizona and Texas for this expansion.
The State of Florida will provide a total of $335,000 to Navis under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $1,000 per job created, paying an average annual wage of $48,686. Under this arrangement, the City of Orlando would provide $67,000 as an incentive over a six-year period. This match includes a High Impact Sector Bonus. City staff is recommending this match because Navis is: 1) a targeted growth industry; 2) creating 67 new jobs; 3) investing $404,600 in renovation and equipment; and 4) considering other states for expansion.
The City of Orlando will benefit through the creation of 67 positions over the next three (3) years and the likelihood of continued job growth and investment well beyond this time frame. Florida's Qualified Target Industry Program includes strict accountability requirements of the applicant. The pledge of funds pursuant to this resolution shall be contingent upon Navis being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.