Why this medical tech firm hasn’t created the jobs it promised yet

0
981

Orlando city commissioners will vote Sept. 21 on whether or not to revise an agreement with a pharmaceutical tech firm to create dozens of jobs.

SMRxT Inc., a company that was based in New York but has since relocated to Winter Park, was approved by Florida to receive an incentive package of $330,000, with Orlando chipping in $66,000, if it creates 55 jobs within three years. SMRxT wants the time extended to four years. However, by doing so, the company will incur a 5 percent penalty for using the one-year extension, dropping the incentive funds to $313,500. The 55 jobs will pay an average annual salary of $63,906.

Victor Chu, co-founder and chief technology officer of SMRxT, told Orlando Business Journal the company needed the extension because of its sudden move to Winter Park instead of its agreed-upon space in Orlando.