Department: Urban Development
Subject: Type of Action: Approval/Action
title
Resolution authorizing the Mayor to enter into a Project Development Agreement between the City of Huntsville and Redwire Defense Tech Huntsville, LLC, respecting incentives for the expansion of the company’s operations in the City.
Resolution No.
body
Finance Information:
Account Number: TBD
City Cost Amount: $125,000.00
Total Cost: $125,000.00
Special Circumstances:
Grant Funded: NA
Grant Title - CFDA or granting Agency: NA
Resolution #: NA
Location: (list below)
Address:
District: District 1 N/A District 2 N/A District 3 N/A District 4 N/A District 5 N/A
Additional Comments: Redwire’s commitments include: Facility Expansion: Redwire will expand its industrial and manufacturing operations at a new facility within the City (the “Expansion Facility”). Capital Investment: The company commits to investing approximately $2,354,000 into this expansion. Job Creation: Redwire is required to employ at least 50 additional full-time equivalent employees at the Expansion Facility. Wages: These employees must earn an average hourly wage of at least $37.83, excluding fringe benefits and overtime. This wage level is referred to as the “Required Hourly Wage.”