14 May Hoover Canvas Products Receives $1.1 Million Incentive From the Fort Lauderdale CRA
Hoover Canvas Products, a manufacturer of awnings, received approval for $1.1 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA).The CRA Board approved the funding on May 7, 2019, to help the company renovate and expand its facility located at 900 N.W. Ninth Avenue (Powerline Road).
The renovations will allow the Fort Lauderdale operation to remain open and grow, fostering economic growth by increasing the company’s productivity and output; prevent the loss of existing jobs; as well as increase job creation in the CRA area. The company plans to hire approximately 16 new local employees, as well as retain the current 25+ work force, which consist of many long-time employees from the CRA area. Renovations at Hoover Canvas Products will take place in three phases and include : drainage improvements, the construction of two large fabric structures used as production areas; and the interior renovation of the main building.
The total cost of renovations, including development review, architectural and permitting, are estimated at approximately $1,350,000.
The CRA’s Development Incentive Program seeks to eliminate slum and blight by attracting new businesses to the CRA and retaining and allowing existing businesses to expand within the CRA. For more information on CRA incentives visit https://fortlauderdalecra.com/incentive-programs/