Piper Expected To Accept $32 Million Incentive, Stay In Vero Beach

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After more than a year of exploring various sites for its next stage of growth, a $32 million incentive package that won approval this week seems likely to entice Piper Aircraft to stay in Vero Beach, Fla. CEO Jim Bass told TCPalm that he will recommend the package to the company's board of directors, and said he expects a final decision by June 30. "We really think that this is good for Piper and the community, and we look forward to a long partnership," he told the Palm Beach Post. The county on Monday OK'd a $12 million incentive, and the other $20 million will come from the state. For its side of the deal, Piper must hire more workers and invest in its physical plant. The PiperJet program is expected to absorb most of that extra investment.

Oklahoma City and Albuquerque also offered enticements to the company in hopes that it would relocate.