Virginia Singer Hernando County Government Public Information Manager 20 N. Main Street, Room 263 Brooksville, FL 34601 Office (352) 540-6780 Cell (352) 600-2797 vsinger@hernandocounty.us www.HernandoCounty.us MEDIA RELEASE July 14, 2015 Hernando County lands luxury jet refurbishing company (Brooksville, FL) At todays meeting, the Board of County Commissioners welcomed Transformation Aviation Services (TAS) as the newest tenant at the Brooksville-Tampa Bay Regional Airport. The company plans to hire 125 full-time workers over a three-year-period with an average annual wage of $45,861. I am excited to welcome Transformation Aviation Services to our community, County Administrator Len Sossamon said. Manufacturing luxury planes is a niche market and Im proud they chose Brooksville for its headquarters. TAS is a premier provider of interior modifications and light maintenance for head of state and VIP corporate jet aircraft with more than 70 years of aviation experience. The company will provide service and modification to various aircraft models within the business jet market. TAS headquarters will consists of a 21,000-square-foot hangar housing office and shops and a separate 4,500-square-foot state-of-the-art welcome center, which will house TASs corporate office, customer offices and flight center. The company intends to lease the air services facility owned by the airport located at 15421 Technology Drive. The company has committed to a 20-year lease, has requested an option to purchase and has plans for expansion on the neighboring parcel. Contributions to the community will grow as our business grows, President and CEO David Tidwell said. The vote of confidence from the BOCC will bring long lasting relationships to the county as well as surrounding communities. We are very excited about this new relationship and look forward to the coming years and increasing our footprint at Brooksville-Tampa Bay Regional Airport. The company expects to begin operating in August. The Board approved the following incentive package:

Lease payment incentive for a 36-month period to be paid directly to the airport (annual value = $125,676; total value= $377,028).

Maximum cost over the three year period is $377,028.

Board of County Commissioners

20 N. Main Street, Room 263

Brooksville, FL 34601

(352) 754-4002

Fax: 754-4477 www.HernandoCounty.us

Hernando County

To protect the countys investment, TAS shall be required to: Provide quarterly meetings and annual documentation of the job creation and wages.

Provide an instrument of financial surety in the amount of $125,676renewed annually.

Document the retention of these jobs for a period of five years. According to a Regional Impact Analysis report provided by the Tampa Bay Regional Planning Council, the local economic impact for this project is estimated to generate an additional 50 induced and indirect jobs within Hernando County. These combined jobs generate an average of $6.5 million in personal income annually. At full employment, these combined jobs also contribute approximately $10.8 million to the gross county product.

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