The optical manufacturing company with plans to expand operations in the City of Port St. Lucie is on track to snap up nearly 10 acres of land within the Tradition Center for Commerce with a price tag of about $87,000 per acre.
Oculus Surgical, whose parent company is based in Germany, is negotiating with city staff for the land purchase. A sales contract could be presented to city leaders in December.
Oculus plans to build a 50,000-square-foot manufacturing and distribution facility and add 50 new employees over the next three years. Those jobs would have average salaries of $43,000, not including benefits.
Oculus Optikgerate, the parent company, was established in 1895 and employs 443 people in Washington and Port St. Lucie, and serves 80 countries. It manufactures eye surgery devices.
The current Port St. Lucie location is on NW Mercantile Place and employs 31 people. The company acquired another business and plans to consolidate and expand its operations, its leadership told the Port St. Lucie City Council earlier this summer.
When the city took ownership of what it now calls the Tradition Center for Commerce – it was Southern Grove – the city became saddled with taxes and special assessments.
Elijah Wooten, the city’s business navigator, told the City Council that Oculus’ purchase would offset an estimated $15,000 of the city’s carrying costs. And, as Oculus continues to grow and expand and add onto its facility, it will offset even more of those carrying costs.
The potential Oculus site was one of many areas that Urban Land Institute looked at while conducting consulting work for the city. Pete Tesch, president of the Economic Development Council, discussed the property with ULI President John Walsh. Tesch shared that conversation with the council, quoting Walsh’s sentiments. “You’ll be amazed by the quality of this facility,” Tesch said, recalling his conversation with Walsh. “You will be so proud of it. And so will the Germans. It’ll be a Taj Mahal in terms of an industrial facility.”
The company plans to make an initial $6 million minimum investment in the property and construction, according to Ross McDonough, the company’s quality and regulatory affairs manager. He added that he expects Oculus to be a permanent fixture in the Port St. Lucie.
Oculus has already received local and state considerations and incentives for opting to stay in St. Lucie County instead of relocating elsewhere. That package includes a 10-year property tax exemption, impact fee mitigation, and fast-tracked permitting for construction.