JABIL TO BUILD IN ST. PETERSBURG, FL
Company to Increase Headcount 41 Percent Over Four Years
12 September 2008
St. Petersburg, FL
St. Petersburg, FL – September 12, 2008. Today Jabil announced its intention to remain headquartered in St. Petersburg, Florida and to significantly expand both its local manufacturing presence and its total employment in future years. “In light of the substantial support from the State of Florida, Pinellas County and the City of St. Petersburg, we intend to proceed with a plan to build a new manufacturing plant and consolidate corporate functions in a single location,” said Timothy L. Main, President & CEO, Jabil. Final resolution of the site determination requires the action of City Council and the Board of County Commissioners.
“The company’s contributions to our business community have translated into high-value jobs, innovative solutions and many other benefits to the state, as well as the Tampa Bay region,” said Governor Charlie Crist. “I welcome the successes that are sure to come from Jabil’s expansion.”
Over the past five years Jabil has increased its total US workforce by 83 percent, from 3,983 people to 7,289. In St. Petersburg, where Jabil employs 1,880 highly-skilled people, the company has increased headcount 28 percent since 2003. “We have proudly maintained manufacturing operations in St. Petersburg since 1983. And, as a global, publicly-traded corporation, we employ hundreds of people in highly skilled technical positions such as engineering and information technology; professionals in supply chain management; quality professionals and a variety of corporate support functions. We are delighted to expand on that tradition as we increase our employment base with great people engaged in our core manufacturing operations. The financial incentives and the strong support from the State, County and City leadership have been pivotal to our decision and is deeply appreciated by all stakeholders in Jabil,” said Main.
The final incentive package from the State of Florida, Pinellas County and City of St. Petersburg, includes performance-based incentives that will allow Jabil to build new facilities; add 850 incremental employees to meet the growing needs of its defense and aerospace business; and consolidate from a variety of locally-leased facilities.
- The State of Florida pledged to provide direct project cash incentives of $20 million.
- Pinellas County approved $2.9 million in incentives, including a job creation grant and training support. The City of St. Petersburg committed to tax, utilities and job creation incentives of $1.7 million.
- The State has pledged an additional $2 million toward Gandy Boulevard improvements to supplement the $11 million previously committed to Gandy Boulevard by the City from impact fees and federal grant.
"We focus a large amount of our economic development efforts on retaining our existing employers. Jabil's future expansion should create 850 new high wage jobs. When this project is complete the annual contribution to the Pinellas County economy will exceed $225 million,” said Commissioner Robert B. Stewart, Chairman, Pinellas County Board of County Commissioners.
In February, Jabil organized a formal process to determine whether to consolidate its operations in Florida, consider alternative locations or remain in its current location. Jabil utilized a third party to request state and local incentives to attract its corporate headquarters and manufacturing operations. Several states participated in preparing incentive bids, including California and Michigan. The offices of Governor Charlie Crist, Congressman Bill Young and Mayor Rick Baker were all active participants in the effort to keep Jabil in St. Petersburg and Florida. In addition, Florida’s legislative leadership, the St. Petersburg City Council, the Pinellas Board of County Commissioners, Enterprise Florida, Workforce Florida, WorkNet Pinellas and St. Petersburg’s Downtown Partnership all worked to help make this project possible.
Jabil plans a formal groundbreaking later this year.
Investor & Media Contact:
Beth Walters
Vice President, Investor Relations & Communications
(727) 579-9749
About Jabil.
Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. With more than 75,000 employees and facilities in 20 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, “JBL”. Further information is available on the company’s website: jabil.com.
New Jabil Campus Rendering
Jabil Fact Sheet
| Jabil | Global electronic product solutions company providing comprehensive electronics design, manufacturing and product management services |
| Founded | 1966 in Detroit, Michigan, USA |
| New York Stock Exchange | JBL |
| Headquarters | St. Petersburg, Florida, USA |
| Internet | www.jabil.com |
| Executive Management | President and Chief Executive Officer, Timothy L. Main Chief Operating Officer, Mark Mondello Chief Financial Officer, Forbes I.J. Alexander |
| 2007 Revenue | $12.3 billion USD |
| Employees | 75,000 worldwide |
| Manufacturing Sites | Jabil’s 55 manufacturing facilities are located in 20 countries in the Americas, Europe and Asia. |
| Services | Design, Manufacturing, Supply Chain and After Market Services |
| Customers Served | Jabil customers include market-leaders in aerospace and defense; automotive; business automation; computing and storage; displays; industrial, instrumentation and medical; mobility networking peripherals; and telecommunications. |
Ten Year Revenue Growth 24% Compound Annual Growth Rate 1998-2008E |
Diversified Customer Base
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Brief History
Founded in 1966 by William E. Morean and James Golden, Jabil's earliest work involved manufacturing replacement circuit board assemblies for a computer manufacturer.
A 1976 contract with General Motors proved to be a critical move for positioning Jabil in the EMS industry. Jabil established a high-volume manufacturing partnership with the automotive giant in which Jabil purchased all parts and provided engineering services. To meet those demands, Jabil invested in advanced assembly technology and automated manufacturing equipment.
The industry has grown rapidly with the shift to outsource manufacturing by the world's largest manufacturers of electronics. Today Jabil continues to invest in technologies and services in anticipation of customers' needs. From design through manufacturing and repair and warranty, Jabil provides customers with complete turnkey manufacturing services.
Fortune 500
From 1994 (Jabil's first full year as a public company) Jabil’s 13-year compounded annual growth rate (CAGR) in revenues is 30.77%, and 13-year CAGR for earnings per share is 24.9%. Of the current Fortune 500, just 10 other companies match this growth performance.
Five Year Perspective |
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Fiscal Year 2007
19.4 million square feet in 52 sites
Business Mix:
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Fiscal Year 2002
7.6 million square feet in 20 sites
Business Mix:
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