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Sarasota-Manatee
Business Observer Wednesday, Jan. 5, 2011 11 years ago

Michigan firm moves to Manatee

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It Works Global could get nearly $800,000 to move its headquarters.

MANATEE COUNTY — It Works Global Inc. will move its corporate headquarters from Grand Rapids, Mich., to Manatee County after local and state governments approved $799,785 in performance-based incentives to assist with the relocation.

To receive the approved funds, It Works Global must pay the 90 additional employees CEO Mark Pentecost says it will hire over the next three years at least 115% of the
annual average in Manatee County, which currently stands at $33,600.

Lauren Kratsch, business development manager with the Manatee County Economic Development Council, told the Business Review that new employees are likely to be paid closer to 150% of the average.

Of the $799,785 in incentives being offered to It Works Global, $432,000 will be provided by the state of Florida in the form of a Qualified Target Industry (QTI) tax refund that includes a High Impact Sector Bonus. To secure that funding, Manatee County had to post a 20% match of $108,000 from its own funds, for a total sum of $540,000.

A separate Economic Development Incentive Grant of $180,000 approved by the county brought the total pot to $720,000.

The last $79,985 in grants the company could receive would be in the form of a transportation impact fee refund on construction activity. Pentecost and his wife Cindy bought the Stoneybrook Golf Club on Grand Harbour Parkway in Bradenton for $3.48 million in October, and could move It Works Global's corporate headquarters there.

It Works Global is a direct sales company, currently employing 45 workers, according to Pentecost. Among the products sold is the Ultimate Body Applicator, which is marketed as “a naturally based, detoxifying, body contouring wrap that produces tightening, toning and firming results in 45 minutes.” The company also sells nutritional supplements and skin care products.

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