Monday, March 19, 2012

Penny Chandler, others: Indian River County blessed to keep Piper Aircraft in our community, reaping 2,500 percent return on investment ---- After three years, it's clear Indian River County made right decision; Piper will continue to be successful

Every so often it may be good to remind ourselves, and those who were not living here at the time, why the community retained Piper Aircraft and the value of having this manufacturer in our community.

In January 2007, the Indian River County Chamber of Commerce received a request for proposal from a site selection company for the relocation of Piper Aircraft. The chamber brought together a project team composed of representatives from the city of Vero Beach, Indian River County, the chamber, Enterprise Florida and state elected officials. More than 60 communities responded to that request by the proposal deadline date in early February 2007.

For two years our community engaged in a highly competitive site selection process to retain Piper Aircraft. At that time Piper had more than 900 jobs in Vero Beach. At the end of the process, dozens of communities involved in the competition were eliminated and we found ourselves in competition with Oklahoma City and Albuquerque. Today, many forget why we fought so hard to keep the company, and the details of the largest job retention project in the history of Indian River County.

Since 2008, when the company made a final decision to stay in Vero Beach, Piper and the rest of our nation's businesses, experienced downturns as the economy eroded. These have been uncertain economic times worldwide and the basis for Piper's suspension of plans to move forward with the jet. However, even in these troubling times, Piper has opened new sales territories, rolled out an improved 2012 M-class aircraft and has announced many new product improvements.

Our community supported a $12 million incentive package for Piper in 2008 to keep them in the state of Florida — and more importantly in our community. Only $4 million of that was paid out. Piper Aircraft's payroll into our community has been more than $40 million each year since 2008 when they announced plans to remain here. From their payroll alone that is more than a $120 million impact on our community over a three-year period and equates to a 2,500 percent return on investment. And, Piper invested an additional $5 million in construction, using mostly local firms. The unemployment in Indian River County would skyrocket without Piper here.

Piper Aircraft is important to our county. They operate with integrity. The retention of Piper was about keeping an existing company, protecting hundreds of jobs and a significant tax base to our community.

Legends take shape over time, not overnight. Piper Aircraft has seen tough times before and they have come back. We believe it is more important than ever to give this local company our support.

This column was signed by members of the team that worked together for more than a year to retain Piper Aircraft. The signers were: Ralph Poppell, former state representative; Gary Wheeler, county commissioner; Joe Baird, county administrator; Penny Chandler, president, Indian River County Chamber of Commerce; Helene Caseltine, economic development director, Indian River County Chamber of Commerce.

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