Raymond James Financial has purchased land from the Porter family, moving a step closer to building an office complex in Wesley Chapel.
The satellite campus could yield hundreds of new jobs for Pasco County.
The Fortune 500 financial company, with headquarters in St. Petersburg, could build as much as 1 million square feet of offices on about 65 acres near State Road 56 at Mansfield Boulevard, east of The Shops at Wiregrass.
(File Photo)
The land purchase had been anticipated since July, when the U.S. Army Corps of Engineers approved a permit for the project.
Over the years, there have been naysayers who never thought the project would get off the ground after the recession scuttled the project in 2011.
But, J.D. Porter, an owner of Wiregrass Ranch, never doubted that Raymond James believed in the project, and in Pasco.
In fact, Porter said, “Pasco County is in the best situation. It is a place that is built and made to grow in a big way. This really sets it up for leadership to take the bull by the horns. I feel a lot of people will follow suit.”
Nearly six years ago, the Pasco County Commission offered up about $10 million in roadwork and tax break incentives to lure Raymond James to the county. Raymond James had a target goal of bringing up to 750 new jobs to the county.
But by 2014, company officials said they would delay plans for up to five years. The land purchase is a project restart.
“Obviously, we don’t know when the project will go vertical,” said Pasco County Commissioner Mike Moore. “It will take some time. But, I think it’s going to be a trigger for other development. It’s going to be a draw and bring a lot of attention to our area.”
Wiregrass Ranch already is seeing new growth.
Forest City Enterprises plans to add more retail and residential next to The Shops at Wiregrass.
Florida Hospital Wesley Chapel, which opened in 2012, is already deep into an expansion, adding three floors and nearly 112,000 square feet of medical space.
Porter said patience paid off with Raymond James. Company officials, county staff and Will Weatherford, who was then Speaker of the Florida House of Representatives, worked to make the project happen.
“This was truly a team effort to get the deal done,” Porter said.
Now Raymond James is arriving in the midst of a post-recession boom for Pasco County and Tampa Bay.
“This is great for the region (of Tampa Bay),” Porter said.
Published September 21, 2016
