A dental laboratory company is seeking a county property tax break as it looks to make a $3 million capital investment in Palm Bay.

 

BonaDent Dental Laboratories says it wants to build a 15,000-square-foot laboratory in Palm Bay and add 10 employees to its 34-employee local staff. The new employees would be hired in 2015 at an average salary of $42,640 a year.

 

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The company is seeking county property tax breaks totaling $279,360, spread over a 10-year period, but would pay $68,098 in new county taxes during that time, according to an analysis by the Economic Development Commission of Florida's Space Coast.

 

BonaDent produces dental restoration products, including crowns, implants and dentures.

 

The County Commission on Tuesday took preliminary action by qualifying the company as an eligible business under that tax abatement program, and scheduling a hearing for July 22 on the tax break itself.

 

In a memo to county commissioners, the company said it expects "to continue on its current growth curve," but needs the tax break to help it "keep Florida business in Florida."

 

The company anticipates generating $5.4 million a year in sales from its Palm Bay site.

 

BonaDent said it hopes to move from a 10,000-square-foot leased facility in West Melbourne, to its own building in Palm Bay. It anticipates spending $2 million on construction and $1 million on equipment.

 

However, if the tax abatement is not granted, the company said, it could move some of its Florida-generated business to its other dental labs in Seneca Falls, N.Y., where the company is based, and in Greenville, S.C.

 

The fourth-generation, family-owned company, was founded in 1950, and has a total of 225 employees at its three locations.