Broward could lift cap on job growth incentives to help Magic Leap land millions

0
1048

In order to help augmented reality firm Magic Leap secure up to $9.08 million in public funds, Broward County could lift the awards cap on its job growth incentive program.

Currently, the county can give a company a maximum of $200,000 in cash incentives. That’s based on receiving $2,000 for each new job that pays at least 115 percent of the average annual wage, so there’s no extra money for companies creating more than 100 jobs.

Magic Leap has a pending incentive application under the name “Project Blaze” that proposes to create 725 jobs with an average wage of $100,000 in Plantation. It would relocate 200 jobs from Dania Beach and invest $150 million in the former Motorola campus.