$2.1 Million Approved to Lure Johnson & Johnson, 700 Jobs to the Bay

As Johnson & Johnson continues to eye the Tampa Bay area for the creation of a shared services operation headquarters, Hillsborough County Commissioners voted unanimously to give the company more reasons to choose the region.

A total of $2.1 million reasons to be exact.

Johnson & Johnson is the process of choosing a location to make a $23.5 million capital investment by building a new headquarters location. If Hillsborough wins the selection, the company would create about 700 new jobs in the area with a wage of at least $75,000, the county announced.

The county’s $2.1 million in incentives are “a required match to the state’s $7 million for the project under the Quick Action Closing Fund (QACF) Program and other state appropriations,” the county noted in a media release announcing the decision. “The effort is part of an initiative to spur economic development activities and to create higher-wage quality jobs.”

Should the company move to Hillsborough, the incentives would paid out on a per-job basis over a four-year period that begins in the fiscal year 2017.

Johnson & Johnson is still reviewing other states for its planned expansion. It is unclear how soon a decision will be made.

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