LignoTech - "It is abundantly clear . . . a tremendous economic impact for the area"

Submitted by Susan Hardee Steger

June 23, 2016 1:30 p.m.

"After studying the fiscal and economic impacts derived from the proposed development of the LignoTech manufacturing facility to be located in the City of Fernandina Beach, it is abundantly clear that, even after accounting for the economic incentive program of ad Valorem rebates, LignoTech will generate a positive net fiscal benefit for Nassau County." RCL Analysis

The conclusion reached in the newly released "Fiscal & Economic Analysis of LignoTech Economic Incentive Program" compiled by Robert Charles Lesser & Company for the Board of County Commissioners (BOCC) confirmed what the Nassau County Economic Development Board and other community leaders knew all along; LignoTech will generate a a positive economic impact for the community.

The $7,500 economic analysis was requested by Commissioner Steve Kelley and supported by Commissioner George Spicer. The BOCC approved the analysis on a 5 - 0 vote in hopes of  winning unanimous approval for the Economic Development Grants for LignoTech.

Despite a previous 5–0 vote approving other Economic Development Grants for DaySpring Village and VyStar, Commissioners Steve Kelley and George Spicer have not appeared convinced awarding a grant to LignoTech is a good deal for Nassau County.

Commissioners George Spicer and Steve Kelley File Photo

The LignoTech Economic Development Grant is expected to again go before the BOCC on July 6.

The main body of the analysis follows.

To view previous LignoTech article in the Fernandina Observer article by Suanne Z Thamm "Gift horse or Trojan horse? BOCC to study . . . more" click here.