LUTZ — The Pasco Board of County Commissioners approved a $177,172 economic incentive package Aug. 4 to help keep a local company’s $8 million expansion inside county borders.
The Soule Co. consists of two divisions. One fabricates packaging products and the other fabricates disposable foam positioning products for the medical community. The company incorporated in Florida in 1956 and has been operating in Pasco since 2001.
Soule’s latest expansion will be in Compark 75 in Lutz, located between I-75 and Wesley Chapel Boulevard. According to a Pasco Economic Development Council press release, Soule’s $8 million investment includes building a nearly 100,000 square foot facility and creating 25 new full-time jobs. Soule operates a 62,000 square foot facility not far from the proposed site.
“We’ve grown to the point that we need to add an additional facility,” The Soule Co. CEO Jerry Flatt said via webcam during Tuesday’s county commissioners meeting.
According to the county commission meeting agenda, Soule’s expansion is expected to contribute $4.69 million annually to the Gross County Product. The average annual income for the new 25 full-time jobs is expected to be $44,587. Flatt said he expects 10 full-time employees to be added in the first year and for that number to get to 25 by 2023.
“The company will utilize some of our job creation and training incentives to continue their growth,” Pasco County Commission Chairman Mike Moore said in the Pasco EDC press release. “It’s becoming more obvious with each announcement that Pasco County is the right environment for the life sciences industry to flourish.”