Winter Garden-based Tag Aero, a parts distributor for commercial aircraft, is progressing on plans to build a new headquarters that's double the size of its current footprint, and should break ground on the $1.4 million project next January, the company's founder told GrowthSpotter.
That's a delay of just under a year from what Myles Thomas, managing director and founder, said last November after the company paid $215,000 for a 0.97-acre lot in the Winter Garden Commerce Center (660 Garden Commerce Parkway).
"We'll look to break ground on the new property at the start of 2017," Thomas said. 'We have everything submitted to Winter Garden, which seems inundated at the moment with (new development), but will be approved. We also now have financing lined up through Fifth Third Bank, our commercial banker."
Plans call for a 12,500-square-foot building, with 4,000 square feet dedicated to office and 8,500 square feet to warehouse operations. Thomas estimates Tag Aero's total investment through buildout will be roughly $1.4 million next year.
The new building will be more than double the current 5,000 square feet Tag Aero leases at 1226 Winter Garden Vineland Road. The company can then add 10-12 new employees to its current seven by opening a parts repair division, a service it currently outsources.
The project's site plan has yet to be fully approved by Winter Garden, and has a pending Environmental Resource Permit filed on May 19 with the St. Johns River Water Management District.
Tag Aero is in the process of growing its product line this year, and will focus 2016 on hiring new staff and rolling out that line, Thomas said.
The company was ranked no. 126 on Inc. magazine's "Fastest Growing Companies in America 2015" list.
"We love what they're doing here in Winter Garden, so much investment in the area and the housing market is booming," he said. "Most of our product moves through freight, so selecting here for the new headquarters really came down to convenience for me, and where I and my staff live."