Titusville energy firm gets incentives to stay, expand

A fast-growing Titusville energy services company plans to expand even more, after receiving incentives from the North Brevard Economic Development Zone board to help pay for renovation of an industrial facility west of downtown.

The board voted 5-0 to approve New Energy Services Inc. for $90,000 in incentives to partially reimburse the costs of acquiring and upgrading the now-vacant warehouse site at 1111 Norwood Ave., which has fallen into disrepair.

Over the past several years, New Energy Service has tripled its employment from 34 to 103. Its annual sales doubled from $5 million in 2014 to projected sales of $10 million to $12 million this year.

New Energy’s businesses include electrical contracting, energy management and solar electric power generation.

New Energy Vice President and Chief Financial Officer Robert Ziegler said the company plans to add 20 more employees later this year, in jobs that will pay an average of $45,000 a year.

The company, which was founded in Titusville in 2006, has among its customers Kennedy Space Center, Cape Canaveral Air Force Station and Patrick Air Force Base.

It also did electrical installations at the new Titusville Logistics Center and will be working on two big projects now under construction — the Titus Landing retail and medical complex in Titusville and Mercedes-Benz Stadium in Atlanta, which is scheduled to open for the 2017 National Football League season as the home of the Atlanta Falcons.

Ziegler said his company has been looking for sites to expand in the Daytona Beach, Orlando and surrounding areas. But it will stay in Titusville after working out the deal for its new facilities and the accompanying incentives.

“We want to play our part in the economic development of North Brevard by bringing quality jobs to our community and improving the landscape with this improved facility,” Ziegler said in his application for incentives.

Ziegler said the company plans to spend $655,000 on purchase and renovation of the Norwood Avenue site, which includes an existing 10,266-square-foot warehouse. The company also plans to add 3,000 square feet of office space there to accommodate the company’s office staff.

Troy Post, executive director of the North Brevard Economic Development Zone, called the incentive plan “an opportunity to redevelop the site and meet the needs of a company that is growing.”

“It’s a great redevelopment project,” Titusville City Manager Scott Larese said.

Larese noted that the Norwood Avenue site is near part of the Brevard County segment of the East Central Regional Rail Trail bicycle and walking trail area that Titusville officials hope will become a tourist draw.

Ziegler said upgrades to the warehouse site will involve “a complete renovation of the interior, exterior, roof, paved parking and surrounding site area.”

The move to Norwood Avenue will allow New Energy Services to consolidate its three North Brevard facilities in one complex. Company now has its Titusville corporate offices at 3050 S. Hopkins Ave, and also has a warehouse in Titusville and an equipment storage facility in Mims.

“By consolidating all three facilities into one larger, centralized location, we will increase our efficiency and support growth,” Ziegler said.

As part of the deal to receive the incentives, New Energy Services must stay at the Norwood Avenue site for at least two years.

Source: Florida Today