Radiant Power Corp., designer and producer of underwater locator beacons, power and sensor products for commercial aviation and marine, will expand its Manatee County, Florida facility for the second time in less than a year.
Last year Radiant Power expanded its South Manatee facility last year to accommodate a larger engineering team for developing new products and added production space for a business it relocated from Hatsfield, Pennsylvania The current expansion will add 4,000 square feet to the 27,000-square-foot facility as the company integrates another product line being relocated from St. Charles, Ill.
“This is our second expansion in less than a year, and we would not be able to grow our production and workforce at this rate without expedited assistance from the economic development corporation, Manatee County Government and the State of Florida,” said Anish Patel, president of Radiant Power. “This latest expansion requires a capital investment of more than $650,000, which demonstrates our confidence in being able to deliver to global markets from our Manatee County location.”
As an incentive to facilitate the firm’s expansion project, Radiant Power was approved for a state Qualified Target Industry incentive of $80,000, a tax refund that is paid after job and other contractual requirements are met. It includes a $16,000 match from the Manatee Board of County Commissioners. The average annual wage of Radiant Power’s 16 new jobs will pay 15 percent more than the county’s average yearly wage.
“The Manatee Board of County Commissioners is focused on providing a business-friendly environment that spurs job creation for local residents,” said Ed Hunzeker, Manatee County administrator. “Carefully applying performance-based incentives and expediting permitting, where appropriate, are tools that give Manatee County an edge in competing for business expansion.”