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Magic Leap may win Broward-expansion incentives

Magic Leap may win Broward-expansion incentives
The 3-D software developer has started moving into its new home office in Plantation
November 29, 2015 03:30PM

Magic Leap founder Rony Abovitz.

The Broward County Commission on Tuesday will consider awarding about $1 million of incentives to 3-D software developer Magic Leap to create jobs in Broward.
The Sun-Sentinel reported that the county’s commitment would be part of $9 million package of public incentives for Magic Leap to create 725 jobs with an average annual salary of $100,000.
Magic Leap, which now employs 217 workers in Dania Beach, has started moving into its new headquarters in Plantation.
The company is renovating 260,000 square feet of commercial space at 8000 West Sunrise Boulevard, which formerly housed Motorola Mobility.
Magic Leap expects make a capital investment of $150 million in Broward, according to the county’s economic development department.
The company also has three California locations in Los Angeles, Mountain View and Santa Cruz, plus locations in Austin and Seattle and two overseas, in New Zealand and the United Kingdom.
The state would contribute $7 million of the job-creation incentive package, including $3 million from Governor Rick Scott’s Quick Action Closing Fund.
According to the Sun-Sentinel, the City of Plantation on November 4 approved more than $1 million of job-creation incentives for an unidentified company fitting the description of Magic Leap.
The company lists almost 200 job openings on its website for software engineers, game designers, Andriod app designers and cinematic animators, plus professionals in accounting, finance and human resources.
Magic Leap was founded by Rony Abovitz, co-founder of robotic-assisted surgical company Mako Surgical in Davie, which was sold for $1.65 billion in 2013 to competitor Stryker Corp.
Abovitz soon began Magic Leap, attracting venture capital interest in his line of “cinematic reality” products under development. Last year, the startup received a $542 million investment led by Google.
After Abovitz started Magic Leap, the company attracted venture capital investors interested in its line of “cinematic reality” products under development. Last year, Google Inc. led a $542 million investment in Magic Leap. [Sun-Sentinel] — Mike Seemuth

Source: The Real Deal

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