The Board of County Commissioners, through the Department of Economic Sustainability (DES) has approved $455,000 in funding assistance from the U.S. Department of Housing and Urban Development (HUD) Section 108 Loan Program for Schomburg Latin America, LLC. The company plans to manufacture and distribute construction chemical products at its newly renovated facility on West 13th Street in Riviera Beach.
Schomburg Latin America, LLC, a Florida company, is a division of The Schomburg Group, which is based in Detmold, Germany. The company manufactures and distributes chemicals worldwide, operating 15 plants on four continents with approximately 900 employees. The new local plant in Riviera Beach will produce grouts, tile adhesives and repair mortars for distribution to Latin American, Caribbean and U.S. markets.
At a total cost of $1.6 million, the project will generate additional tax revenue and employment opportunities in the steadily-growing 13th Street industrial area. The county was selected as the preferred location over sites in Costa Rica and Mexico. DES negotiated financing to provide working capital. This is the first foreign-based company to receive assistance through Palm Beach County’s Section 108 Loan Program.
The program was developed to create a source of funding to implement business ventures that will create new jobs for low- to moderate-income persons and help revitalize communities. Since 2010, the program has created 898 full-time jobs in Palm Beach County.
An analysis performed by DES estimates this project will create 209 direct and indirect jobs and have an economic impact of $11.2 million over a five-year period. Schomburg plans to celebrate its grand opening on June 15.
Persons interested in employment opportunities may contact the company at 561-227-9065.