Pensacola Mayor Ashton Hayward today announced an economic development partnership with Hixardt Technologies, Inc., which will add 100 new tech-sector jobs to downtown Pensacola over the next five years.

Under the terms of the proposed agreement, the City will provide Hixardt with a property on West Government Street as an economic development incentive. In exchange for the property, Hixardt has agreed to create at least 100 jobs with an average salary of $45,000 over the next five years.

The property, located at 120 West Government Street, is owned by the City’s Community Redevelopment Agency (CRA) and is currently used as a surface parking lot. Hixardt would use the property to build a new 30,000 ft2 office building adjacent to its current headquarters on West Intendencia Street, representing a minimum capital investment of $4 million.

The deal contains a number of firm benchmarks which must be met by Hixardt. Upon closing, Hixardt would provide the CRA with a note for the property’s assessed value of $750,000. That note would be forgiven as follows: 10% at commencement of construction; 10% when Certificate of Occupancy obtained; and 20% for each sustainable and measurable 25 jobs.

“One of my 20 Solutions for 2011 was to find uses for vacant, surplus City property to encourage businesses to move and expand here in Pensacola,” Mayor Hayward said. “I learned about this potential economic development opportunity last year and am happy that we were able to make this happen.”

Hayward credited the company owner, Mike Hicks, as well as the Pensacola Bay Area Chamber of Commerce for working with the City to put the successful transaction together.

"This deal is a true win-win for the citizens, the community, and Hixardt Technologies, and it is another example of a true public-private partnership between the City, the CRA, the Chamber and the company," said Hayward. "As I've said before, government shouldn't be in the business of creating jobs, but rather creating the incentives and the environment for the private sector to flourish, and I think this deal does that," continued Hayward, "and I hope the City Council will approve this transaction."

"We were pleased to partner with the City of Pensacola and Hixardt Technologies to support this local expansion," said Donnie McMahon, Pensacola Bay Area Chamber of Commerce board of directors chairman. "This project is yet another step in reaching the goals of our Vision 2015 initiative and the creation of these jobs will enhance opportunities for Pensacola residents."