SizeUpOEV provides free market research and business intelligence to help small businesses TALLAHASSEE, Fla.—The Office of Economic Vitality (OEV) is launching SizeUpOEV on the OEV website today. SizeUpOEV uses big data, cloud computing, and computer algorithms to deliver custom analysis for local businesses. This powerful market research and business intelligence data is industry-specific and hyperlocal. […]
Magnetic Momentum: Danfoss announces expansion of Tallahassee manufacturing facility
TALLAHASSEE, Fla., December 23, 2020 – Today, Danfoss Turbocor, the pioneer of the world’s first oil-free magnetic bearing compressor for the HVACR industry, has announced its plan to further invest in and expand the footprint of its Tallahassee manufacturing facility.
The new production facility is expected to break ground within Innovation Park in 2021. Danfoss will expand its current facility with a multi-million dollar capital investment in a new 65,000-90,000 square-foot facility on 16 acres of land that is expected to create approximately 239 new manufacturing and research jobs.
“This area affords us tremendous opportunity to collaborate with world-class researchers in aerodynamics, power electronics, and magnetic technologies — and we have a strong partnership with Florida State University and the National High Magnetic Field Laboratory, which have been instrumental in helping Danfoss engineer world-class technology that addresses critical energy issues around the world,” said Ricardo Schneider, president of Danfoss Turbocor Compressors.
According to an impact analysis done by the FSU Center for Economic Forecasting and Analysis, the total economic impact could create a total of 953 new jobs and generate approximately $140 million in economic output for Tallahassee-Leon County.
“The entire community benefits from our continued investment in business retention and expansion efforts, as this leads to job creation,” said Blueprint Intergovernmental Agency Board of Directors (IA Board) Chair and City Commissioner Dianne Williams-Cox. “Fostering innovation makes Tallahassee a place where businesses can do more than survive- they have opportunities to thrive.”
On January 30, 2020, the IA Board, comprised of the City and County commissioners, approved $2.3M to support the company’s expansion within Innovation Park and the Leon County Research and Development Authority (LCRDA)’s strategic plan to increase the overall economic competitiveness of Innovation Park. This includes $1.4M for the Targeted Business Program to the company and $805,000 to help the strategic investment within Innovation Park for the LCRDA.
“Amidst the pandemic, the County and City, as well as organizations like the Leon County Research and Development Authority, have been facilitating opportunities for local economic growth,” said IA Board Vice Chair and County Commissioner Nick Maddox. “This expansion will be a strong economic driver in our area, and I am looking forward to the high-wage jobs it will bring to our community.”
The LCRDA Board of Governors has worked closely with OEV to facilitate the details of the Danfoss expansion in Innovation Park. They hope that the project will continue to build momentum in Tallahassee’s magnetic ecosystem, known as the Magnetic Capital of the World, leveraging the city’s cutting-edge research and diverse talent pool.
“We are extremely excited for the opportunity to support Danfoss Turbocor in its expansion efforts at Innovation Park,” stated Kimberly A. Moore, LCRDA’s Chairman. “Danfoss is an excellent example of the success that can be achieved by partnering with the business community to create jobs, drive innovation and expand the number of high-skilled high-wage jobs available to local residents. We look forward to repeating this success.”