The company will invest $11.8 million to build a new manufacturing facility in Sanford.
Using innovative processes and high-tech equipment and tools, SOS builds precision framing components for turnkey residential construction. SOS manufactures floors, roofs, and walls in an offsite plant that will be shipped and installed on the home construction site in less time than stick-built construction.
This expansion will increase the company’s operational footprint by more than 240,000 square feet of space for manufacturing, warehouse, and distribution.
Salaries for the new positions will vary. Once all the positions are filled, the average annual salary for all new positions is $50,470, which is above the Lee County average salary of $42,516. The project could create a potential annual payroll impact of more than $11.8 million per year.
Service Offsite Solutions expansion will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of the grant, the project is estimated to grow the state’s economy by more than $452 million.
Using a formula that takes into account the new tax revenues generated by the 137 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $2,051,250 spread over 12 years.
Payments for all JDIGs only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.
Service Offsite Solutions is locating to Lee County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $683,750 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities across the state finance necessary infrastructure upgrades to attract future business. ■