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B&C Technologies, a supplier of industrial and commercial laundry equipment, could soon begin operations from the Port of Panama City as the port commission approved a proposal offering the company 20 acres of land, the Panama City News Herald reported.
Port officials hope B&C will accept their $40,000-per-acre deal to begin operations from the port's Intermodal Distribution Center. Under the 10-year deal, the port would finance half of the purchase price and give B&C $100,000 in debt forgiveness if the company has 100 employees at the end of the agreement. If B&C has more than 200 employees at the end of 10 years, the port would forgive $200,000 in loans.