Translation for those of you who don't speak Italian: E-Stone, headquartered in Vicenza, Italy, has found its North American home at the Sebring Commerce Park in Highlands County. The company brings with it a commitment of $15 million in capital investment and 150 high-wage jobs in two years' time.

The County's location in the heartland of the Florida peninsula, and three hours' drive from Miami, was one of the site's compelling factors, according to Cesare' Ortolani, E-Stone's president. "We had decided we wanted to be in Florida and when we visited (Highlands County) I got a good impression and saw the possibilities. The Sebring area has a good connection to I-27 and development plans for good east-west road connections. Railroad access is available as well."

The product E-Stone will make at its new facility provides the look of Italian granite without the high cost and can be installed right on top of existing countertops. Commercial applications include reception areas, lobbies, restroom areas, bar tops, and tables. So what makes this product unique? "We start with crushed granite, so our finished product is just as strong as granite, but it is only 3/8" thick as opposed to 3/4" and not nearly as heavy," says Ortolani. "It is heat, stain, and scratch resistant and it is not as porous. We have competitors, but nobody with a product exactly like ours."

Located in the 2000-acre Sebring Commerce Park, construction of the 90,000 square-foot building is close to completion. Equipment is already being moved and production will start in first quarter 2006. Hiring of the initial employees has also begun. Ortolani indicated that the high quality of workmanship in this rural area was another factor in choosing the Highlands County location.

E-Stone can also take advantage of the many financial incentives rural Florida offers. By locating in an enterprise zone*, E-Stone has access to extraordinary tax advantages, and the company may also utilize state grant funding for worker training.

It all began when Lieutenant Governor Toni Jennings met the president of E-Stone's parent company Trend Group S.p.A. on a trade mission. Enterprise Florida, the state's economic development arm, shared the company's needs with several economic development partners around the state and the rest is E-Stone history.

Louise England, Executive Director of Highlands County EDC, is excited and pleased with how quickly the project has progressed. "E-Stone visited Highlands County in February of this year (2005), signed the lease in June; they've nearly completed construction and will be ready for production early next year." When asked about why this site worked, England had nothing but praise for the Sebring Regional Airport Authority. "The company preferred an existing building because they wanted to move so quickly. However, Highlands County had a site with infrastructure in place that was ready to go and the Authority was totally committed to making this project work."

Mike Willingham, executive director of the Sebring Airport and Commerce Park, outlined the Authority's commitment, "First and foremost, our park is a catalyst for industrial development, and secondarily, we are an airport. We consider our tenants as business partners and try to iron out the red tape instead of adding impediments to their businesses. We are an entrepreneurial public body that understands that time is money."

"In E-Stone's case," Willingham elaborated, "we basically facilitated the project by making the land acquisition quick and affordable, and assisted them with their permitting process. We got them off to a fast start and they took the building project and did it on their own. In hindsight, I think they will be happier with the specialized, new facility they have built instead of trying to retrofit an existing building. The new slab houses mechanical, electrical, and pipes, and the outside of the building has a lot of special equipment that they need for their processes."

Planning for the bright future in Highlands County, Florida, the Sebring Regional Airport Authority is in the process of acquiring an additional 1,000 acres for industrial development, where they will also build an 8500-foot runway. England concurs with the prospects for growth. "E-Stone is just one of our many success stories. Because of our location, build-ready sites and commitment to seeking industrial development, Highlands County is preparing for fast-paced development."

In Rural Enterprise Zones (REZ) located in most of the 33 state-designated rural counties, companies can tap enhanced incentives such as tax credits and tax refunds in exchange for job creation. Florida's lawmakers in 2005 extended the Enterprise Zone program through 2015. REZ incentives include:

• REZ Jobs Tax Credit. A tax credit for up to 24 months is allowed against corporate income tax or sales and use tax for new jobs created. The credit is for 30 percent of wages paid to employees living in a Rural Enterprise Zone. The credit increases up to 45 percent if more than 20 percent of employees live there.
• REZ Property Tax Credit. A tax credit is allowed on corporate income tax equal to 96 percent of ad valorem taxes paid on new or improved property, for up to $25,000 per year for five years; the cap is $50,000 per year if 20 percent of employees live within the REZ.
• REZ Business Equipment Sales Tax Refund. This is a refund of sales taxes paid on business property with a sales price of at least $5,000 per unit; the property must be used exclusively in the REZ for at least three years.
• REZ Building Materials Sales Tax Refund. This is a refund of sales taxes paid on the purchase of building materials used to rehabilitate real property. Up to $5,000 is refundable (or $10,000 if 20 percent of the employees live within the REZ) per project.