Sun Hydraulics Corp. is constructing a 78,000-square-foot manufacturing facility adjacent to its existing operations complex in South Manatee County, Florida, with plans to create 361 jobs during the next five years.
Last year Sun Hydraulics completed construction on infrastructure improvements to utilities that serve its existing building at 701 Tallevast Road and its planned manufacturing facility at 803 Tallevast Road, near Sarasota-Bradenton International Airport. The combined capital investment for the utilities project and the new manufacturing facility is estimated at $19 million. In 2011, Sun renovated its headquarters and manufacturing facility in Sarasota County at a cost of approximately $1.5 million.
"We have begun site work for a third factory in the local Manatee-Sarasota area and expect capital spending of approximately $6 million in 2012 related to the building," stated Allen Carlson, Sun's Chief Executive Officer and president. "We look forward to the additional capacity being completed in mid-2013."
Sun Hydraulics designs and manufactures high performance screw-in hydraulic cartridge valves and manifolds which are used to control force, speed and motion as integral components in fluid power systems. Sun's products allow machine designers to develop innovative and efficient control systems for all types of capital goods.
The expansion, Sun's third manufacturing facility in the Manatee-Sarasota region, could potentially bring Sun's total employment in the region to over 1,000, according to Sharon Hillstrom, president of the Manatee Economic Development Corp. "By adding a third facility in the Manatee-Sarasota area, Sun Hydraulics proves the viability of our region as a location for specialty manufacturers with a global reach."
The Manatee Economic Development Corporation collaborated with Manatee County Government for economic development incentives and put the company in touch with the county's rapid response permitting program. According to public records, Sun qualified for a total of $396,420 in performance-based incentives from Manatee County Government, as well as an estimated $76,580 in transportation impact fee incentives. The incentives are based on the company's adding 361 jobs over five years at an average annual salary that is 15 percent higher than the county average.
"Sun Hydraulics has been an excellent corporate citizen and employer in Manatee County for many years, and this latest expansion signals the company's ongoing commitment to this region," said Ed Hunzeker, Manatee County administrator. "The Manatee Board of County Commissioners is dedicated to accelerating the pace of job growth in the community. Performance-based incentives and a business-friendly approach are essential to this effort."