Florida Power and Light’s special discounted economic development rate will help Cheney Brothers Inc. launch a $100 million distribution center in Charlotte County. The center will eventually employ about 300 people when it’s fully operational.
Cheney Brothers is in the process of purchasing 35 acres right off I-75 in Punta Gorda, for the new facility, which will serve customers from Marco Island through the Tampa Bay area.
“We need all the help from all the partners we can get, whether it’s our customer partners or our vendor partners, like Florida Power & Light,” said Bill Foley, President of Cheney Brothers, which is headquartered in Riviera Beach, Fl.
Businesses in FPL’s service territory already benefit from electric bills that are among the very lowest in the state and well below the national average.
FPL’s economic development rates provide an additional benefit to new or expanding businesses that expand their electric demand by at least 350 kilowatts and create at least 10 new jobs.
“We’re pleased to play a role in Cheney Brothers’ expansion. FPL’s economic development rate provides an incentive to companies that agree to move to Florida or expand their operations here and create new jobs for Floridians,” said Lynn Pitts, FPL Director of Economic Development.
“The discount we get from Florida Power & Light is essential. Along with fuel, our electric bill is probably our next biggest expense that we have at Cheney Brothers. So that discount helps us out initially and in the long-run also,” Foley said.
The economic development rate is designed to be an incentive that will encourage new investment and job creation in Florida.