Piper News

Officials in Vero Beach say final Piper offer is in the works

By Ed Bierschenk (Contact)
Wednesday, September 26, 2007

City and county officials are preparing what they say could be the final incentive offer to keep Piper Aircraft Inc. in Vero Beach.
The package would update earlier proposals made after an Indian River County referendum on $40 million in funding to retain the company was cancelled. Piper had said that a vote was not in the best interests of county residents.
Vero Beach Mayor Tom White said Tuesday that negotiators for the company have told the city that if it presented the right financial package, Piper would stay in Vero Beach.
While the city would have to hold a referendum to deliver all that Piper requested, White said, "We're not that far off."
Piper executives did not return phone calls for comment Tuesday.
Piper is considering moving its headquarters and planned manufacturing plant for the PiperJet from Vero Beach to Albuquerque, N.M., or Oklahoma City. Piper officials have been tight-lipped on when a decision will be made.

City and county officials expect a decision from Piper this week or in early October.
White wanted a meeting of city and county officials on Oct. 4 to inform the public about the final offer because it would impact government spending. For instance, some money earmarked for Piper might otherwise be spent on capital improvements such as road paving and sidewalks.

White learned Tuesday that the city could not be ready to meet by that date. But County Administrator Joe Baird said they want to meet "sooner rather than later."
To date, White and sometimes Indian River County Commission Chairman Gary Wheeler have participated in private negotiations with Piper, along with Baird, City Manager Jim Gabbard and financial and legal representatives from the city and county.
White said he had seen a list comparing what the three communities have to offer Piper. For instance, electric costs are higher in Vero Beach, White said, but Florida has no personal income tax.
Published reports have pegged Albuquerque's offer at as much as $70 million.
White said the figures he saw were spread out over 20 or 30 years and were tied to goals such as the number of employees.