Agenda Item # 10.A.
City Commission Day Meeting 9:00 AM
- Meeting Date:
- 02/09/2026
- Re
- Resolution No. 26-R07 Review and approve incentive resolution for Mohnark Pharmaceuticals
- Submitted For:
- Jessica Williams
SUBJECT:
Resolution 26-R07 Expressing Support for Mohnark Pharmaceuticals as a Qualified Economic Development Ad Valorem Tax Exemption Applicant
SUMMARY:
Mohnark Pharmaceuticals Inc. is a small Veteran-Owned business, headquartered in Fort Pierce. Mohnark Pharmaceuticals specializes in the manufacturing of generic topical pharmaceutical products. Their product line includes over-the-counter and prescription-equivalent gels and creams such as Lidocaine, Diclofenac Sodium, and Adapalene. Mohnark Pharmaceuticals mission is to provide high quality, affordable topical pharmaceuticals with an emphasis on domestic manufacturing and supply chain resilience.
Mohnark Pharmaceuticals intends to expand its current corporate headquarters manufacturing facility by adding new production lines and automated packaging, upgrading quality control and research and development lab capabilities, and improving electrical and HVAC infrastructure. The project will include a capital investment of approximately $600,000.00 in real property and approximately $1,460,000.00 in tangible personal property by December 31, 2026.
Mohnark Pharmaceuticals will retain its existing employees and create eleven (11) new full-time equivalent jobs (FTEs) paying an average annual wage of $53,664 ($25.80), 108% of St. Lucie County's average annual wage, and a generous benefits package to its employees. The employment schedule consists of 4 retained jobs and 4 new FTEs in Year 1, and 7 new FTEs in Year 2.
Based on the current representations made by Mohnark Pharmaceuticals, the City of Fort Pierce has made a preliminary determination that Mohnark Pharmaceuticals meets the requirements for an Economic Development Ad Valorem Tax Exemption in accordance with Section 196.1995, Florida Statutes, whereby the business location is an “expansion of an existing business” for purposes of Section 196.012(15), Florida Statutes.
Pursuant to Section 196.1995, Florida Statutes, final approval of an Economic Development Ad Valorem Tax Exemption must be made through an approved Ordinance by the municipality.
Mohnark Pharmaceuticals intends to expand its current corporate headquarters manufacturing facility by adding new production lines and automated packaging, upgrading quality control and research and development lab capabilities, and improving electrical and HVAC infrastructure. The project will include a capital investment of approximately $600,000.00 in real property and approximately $1,460,000.00 in tangible personal property by December 31, 2026.
Mohnark Pharmaceuticals will retain its existing employees and create eleven (11) new full-time equivalent jobs (FTEs) paying an average annual wage of $53,664 ($25.80), 108% of St. Lucie County's average annual wage, and a generous benefits package to its employees. The employment schedule consists of 4 retained jobs and 4 new FTEs in Year 1, and 7 new FTEs in Year 2.
Based on the current representations made by Mohnark Pharmaceuticals, the City of Fort Pierce has made a preliminary determination that Mohnark Pharmaceuticals meets the requirements for an Economic Development Ad Valorem Tax Exemption in accordance with Section 196.1995, Florida Statutes, whereby the business location is an “expansion of an existing business” for purposes of Section 196.012(15), Florida Statutes.
Pursuant to Section 196.1995, Florida Statutes, final approval of an Economic Development Ad Valorem Tax Exemption must be made through an approved Ordinance by the municipality.
RECOMMENDATION:
Adopt Resolution 26-R07
ALTERNATIVES:
Amend or deny Resolution 26-R07
RESPONSIBLE STAFF:
Shyanne Harnage, Director of Community and Economic Development
COORDINATED WITH:
City Attorney
City Clerk
Economic Development Council of St. Lucie County
City Clerk
Economic Development Council of St. Lucie County
Fiscal Impact
OTHER INFORMATION:
There is no fiscal impact associated with this resolution at this time.