INDIAN RIVER COUNTY — The county commission today approved a $94,000 jobs grant for one of Indian River County’s most unique and interesting companies.
The Triton Submarine works, located at 9015 17th Place in Vero Beach, makes two- and three-person submersibles – sophisticated little submarines that can descend thousands of feet below the surface of the ocean.
Company President Patrick Lahey told the commission his company employs 14 people now and plans to add 24 new workers.
County Community Development Director Bob Keating said all of the jobs would pay at least 75 percent of the county’s average wage of $34,000 a year, qualifying the company for a grant of up to $94,000.
“The money will be provided on a pay for performance basis,” said Keating. “One third will be paid after the jobs have been in place for a year, one third after two years and one third after three years.”
Keating said 15 of the jobs are eligible for $3,000 grants, based on what the positions pay, while seven are eligible for $5,000 grants and two are eligible for $7,000. Jobs that pay more trigger higher grant amounts.
Helene Caseltine, economic development director with the Indian River County Chamber of Commerce, said the 24 jobs would inject $800,000 in annual payroll into the county economy.
Components for Triton subs are manufactured elsewhere shipped to Vero Beach where they are assembled and tested. Leahy said design and engineering work is done locally as well.
A number of the submersible pilots and others who work for Triton are former members of Harbor Branch Oceanographic Institute’s pioneering undersea engineering and exploration program, which was phased out in recent years.
The submarines, which cost between $2 million and $3 million and carry either two or three people, have six-inch-thick spherical Plexiglas hulls that offer unobstructed views in all directions.
With four thrusters, they can pivot, cruise in any direction and tilt forward or backward to bring occupants eyes within a foot or so of anything on the ocean floor.
The electric-powered craft maintain atmospheric pressure inside so there are none of the dangers or delays associated with scuba diving when descending into or ascending out of the ocean depths. They can stay underwater for up to 10 hours.
Triton’s main customers are people who own “super yachts” large enough to carry and deploy the high-tech craft for recreation and exploration.
“This company provides tremendous exposure for Indian River County,” Caseltine said. “We are excited to have them in our community and thrilled they are expanding.”
