Oregon-based senior living owner-operator Holiday Retirement is seeking more than $1 million in multi-year tax incentives from Winter Park, Orange County and the state to relocate its headquarters office to Winter Park.
An open floorplan where employees can collaborate without physical barriers, conference rooms where staff can have private conversations or meet with visitors, ample natural light and a training area for field employees are key attributes being sought in the new space, he added.
The company is asking Winter Park's Community Redevelopment Agency to commit $109,900 as a 10 percent share of a $1.099 million financial incentive under Florida's Qualified Target Industry (QTI) tax refund program. Another 10 percent share would be committed by Orange County.
The award would prompt Holiday Retirement to relocate its headquarters to Winter Park. Founded in 1971, the company now manages more than 300 properties that cover independent living, assisted living and alzheimers/memory care, of which 30 are in Florida.
"Moving our offices to Florida offers a variety of opportunities for us to reduce costs while better accessing companies and people in a hot spot for job-seeking professionals, and retiring older adults," Shanaberger said.
The company told its employees last week that it would be relocating its headquarters, and is still determining how many employees will be moving from Oregon and how many may be hired locally.
The proposed relocation provides for 157 net new jobs to Winter Park over the next three years, with an average annual salary of $90,926, which is more than 200 percent above the average wage of Orange County. The jobs would be mainly in administration, human resources, accounting and information technology.
The payout schedule is over five years, beginning in 2018. The program is a rebate that protects the CRA by ensuring all jobs have been created and retained, prior to emission of funds.
The funding is also subject to Holiday Retirement meeting all the statutory requirements of the QTI program, and an affirmation of support by Orange County.
The request should go before Winter Park's Community Redevelopment Agency board on May 8, with staff recommending approval. It will also be on Orange County Commissioners' May 9 consent agenda for approval.
Holiday Retirement was acquired in 2007 by Fortress Investment Group. The company moved its headquarters to Lake Oswego, Oregon, in April 2012, from its prior location in Salem, Oregon.
Holiday Retirement's communities typically provide senior adults with private apartments, three freshly prepared meals per day, live-in managers, personalized housekeeping and linen services, transportation and more.