The world woke up to the best deal of the year. The four biggest accounting firms going by the popular name KPMG just recently made one of its largest transaction through the acquisition of a large property, news that has shaken the corporate world to the core. KPMG bought the 54-acre property at the least expected time. The property, which was purchased at 41.84 million, is worth investing in according to the company.
So what are the plans for this land? KPMG is looking to build its training center estimated to cost a whelming $430 million. Not only are they going to build a training center but a hotel with lodging rooms able host its massive number of employees. The cost of renting lodging facilities must have come off as way too expensive or maybe they just want to make sure their employees are ever receiving the best of the best in their training process. It could be just one of the many strategies of motivating them to greater productivity to steer the firm’s growth forward
The property sits at the intersection of Lake Nona and Narcoosee Road. The company could have chosen no better place to outcompete this site, which is enriched with good scenery and a fresh breeze from the lake. The company has two options on the table it can either build its corporate hotel or construct sleeping rooms.
According to the company’s spokesperson, the new investment is going to bring into the area an approximate of 80 jobs with a minimum wage of $66,000. The new prospect spells out more development in the area and massive improvement of the living standards of the residents.
The company will be receiving a whopping $320,000 while the city’s contribution will be $64000 as listed under the incentive package approved by the City Council. However, this will only stand if and only if the company provides enough proof of creating the jobs.
This new prospect must have attracted the attention of the city officials, as the company will be enjoying tax rebates of approximate $3.5 million with no chance of exceeding 25 % of the property’s valuation. For the company, it is a win situation as the government is backing them tremendously.
Coming at a point in time when incentives are a primary concern in this area, the city officials announced that they are looking forward to the probability of increased job opportunities and increased investments in the area, in an attempt to justify the huge incentives given to this company.
The big four, which includes other three firms Deloitte, Price Water House Coopers and Ernst & Young, are already making a splash of the deal. KPMG has already established its office down at Orlando according to the latest news on its website,
Worth noting is the fact that the sale documents include the fact that there is a chance of expanding the facility later in the future.
This new mega deal might be just what the city of Orlando may be missing in an attempt to improve both job creation and the professional sector
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