Accel International, a Connecticut-based cable and wire manufacturer, offered Port St. Lucie $1.7 million for a 40-acre tract in the city-owned Tradition Commerce Park where it plans to build a $43 million facility.
The City Council Monday authorized City Manager Russ Blackburn to enter a letter of agreement with Accel International for the vacant parcel between Interstate 95 and Pete Hegener Way.
Accel International plans to build a 150,000-square-foot manufacturing and distribution facility on a 12-acre portion of the property just south of the City Electric Supply building.
The facility would employ 125 workers with an average annual wage of $47,000 plus benefits, city records show. It will benefit from a multimillion-dollar economic development incentive package the council approved in July 2018.
Construction could start in 2020 if the transaction and government approval processes go smoothly, said Malcolm Sina, a real estate broker representing Accel International.