The Marion County Board of County Commissioners voted unanimously this past week to support a manufacturing company set to create up to 25 new full-time jobs above Marion’s average median salary. The commission awarded $40,000 in Economic Development Financial Incentive Grant (EDFIG) funds to Just in Time Machining, LLC, a full-service, family-owned computer numerical control (CNC) shop based out of Rochester, New York.
“We are excited to officially welcome Just in Time Machining, LLC to our community,” said Marion County Commission Chairman Carl Zalak III. “Our board’s commitment of a $40,000 grant shows our continued support of economic development among targeted industries. Knowing that Just in Time also considered Texas, Georgia and Alabama as possible locations, we are extremely pleased that they will be opening for business right here in Marion County.”
Just in Time Machining, LLC provides prototyping, CNC and CNC-turn mill machining, drilling, milling, turning and sawing, welding and metal fabrication. The company is proposing to occupy an existing facility and will invest a minimum of $300,000 in capital funding for renovations and new equipment; it has also committed to create up to 25 new, full-time jobs with an average annual salary of $37,000.
Part of Marion County’s grant will be a $15,000 local financial match to qualify Just in Time Machining, LLC for participation in the State of Florida’s Qualified Target Industry (QTI) Tax Refund Grant Program. That amount represents the 20 percent match towards the state’s proposed 80 percent share of $60,000, for a total grant benefit to the company of $75,000.
The remaining $25,000 EDFIG amount will be allocated directly to the company at a rate of $1,000 per new to Marion County job created by the company over a period of three years. The payment for each job will be made on a performance basis corresponding directly to the state’s QTI funding award.