SightPlan, Inc. provides a suite of resident service and asset management tools for the real estate industry, including the fast growing, multifamily apartment sector. The company’s mobile and cloud based solutions improve predictability and responsiveness of site operations, resident service and streamlines communications. SightPlan is currently a tenant of the UCF Business Incubator – Orlando.
SightPlan is considering locations for its national headquarters to base development, support, sales and marketing staff to accommodate its expansion and growth in all departments, as it enters into new segments of the real estate market. If the Qualified Target Industry (QTI) program incentive is made available to the company, SightPlan will create 28 new-to-Florida jobs by December 31, 2017, paying an average annual wage of $64,000, which is at least 150% of the Orange County annual wage. The average value of benefits that will be available to employees is $8,500, which includes healthcare and 401(k) contributions, paid vacation and sick leave, employer paid life and disability plans, catered lunches, free parking and access to electrical vehicle charging. SightPlan’s total capital investment is estimated to be $280,000 in construction and equipment. In addition to the City of Orlando, the company is considering Texas, Georgia, California, North Carolina, Tennessee and Utah for this project.
The State of Florida will provide a total of $168,000 to SightPlan, Inc. under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $1,200 per job created, paying an average annual wage of $64,000. Under this arrangement, the City of Orlando would provide $33,600 as an incentive over a six-year period. City staff is recommending this match because SightPlan is: 1) a targeted growth industry; 2) creating 28 new jobs; 3) investing $280,000 in construction and equipment; and 5) considering other states for relocation.
The City of Orlando will benefit through the creation of 28 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 SightPlan, Inc. 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.