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County Council Grants $4.5M To Brown & Brown For New Office In Daytona

By on October 19, 2017 in WNDB News

Volusia County, FL – On Thursday, The Volusia County Council unanimously approved a request to give Brown & Brown Insurance Company $4.5 million for infrastructure improvements for a planned headquarters in Daytona Beach.

Two weeks ago, the Volusia County Council approved $900,000 to help Brown & Brown qualify for the state job creation tax credit, and the Daytona Beach City Commission has also approved $4.5 million for infrastructure improvements and another $1,085,000 for the relocation of staff. You can read more on that here.

The money from the County is slated for stormwater improvements, including the design, permitting, and construction of the site infrastructure to improve stormwater quality through treatment and management. The funds would also go towards infrastructure associated with it and franchise utilities. City money will be used for public infrastructure improvements in public rights of way or on dedicated public easements.

Council member Heather Post answered some concerns from the community that the agreement with Brown & Brown is akin to corporate welfare. “I think it’s very important to stress in this situation, I personally do not believe this is corporate welfare. This County funding will specifically be used for roadway and stormwater improvements for that area,” Post explained.

The infrastructure improvements are expected to be completed within four years, but an extension could be granted if needed. Once construction is finished, Brown & Brown will request reimbursement. The agreement requires that Brown & Brown finish construction of the 175,000 square foot headquarters and create 450 new jobs by December 31, 2022. The move is ultimately eventually expected to bring at least 600 new high paying jobs to the area.

“This is far-reaching, this investment,” said Council member Joyce Cusack. “It’s an investment in our future for our children and our children’s children.” She says wants to make sure the County is doing everything possibly to ensure growth and longevity in the future.

The Council also approved $1,320,940 in hurricane funds to repair dune walkovers that were damaged by Hurricane Matthew last year. There are contracts planned for four areas of beach that this budget agreement would cover in Ponce Inlet, New Smyrna Beach, and two areas of Ormond Beach.

The breakdown of the funds is $990,705 from the Federal Emergency Management Agency, $165,117 in state disaster assistance, and $165,118 from appropriated funds.

You can find earlier reporting on both of these agenda items here.

Copyright Southern Stone Communications 2017.

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