Titusville energy firm gets incentives to stay & expand.
New Energy Services Inc. plans to expand its 100-person staff by 20 after acquiring, renovating and moving into an abandoned warehouse west of downtown Titusville.
A fast-growing Titusville energy services company plans to expand even more, after receiving incentives from the North Brevard Economic Development Zone board to help pay for renovation of an industrial facility west of downtown.
The board voted 5-0 to approve New Energy Services Inc. for $90,000 in incentives to partially reimburse the costs of acquiring and upgrading the now-vacant warehouse site at 1111 Norwood Ave., which has fallen into disrepair.
Over the past several years, New Energy Service has tripled its employment from 34 to 103. Its annual sales doubled from $5 million in 2014 to projected sales of $10 million to $12 million this year.
New Energy’s businesses include electrical contracting, energy management and solar electric power generation.
New Energy Vice President and Chief Financial Officer Robert Ziegler said the company plans to add 20 more employees later this year, in jobs that will pay an average of $45,000 a year.