Published: Apr 30, 2013 5:30 PM EDT
Updated: Apr 30, 2013 6:36 PM EDT

LEE COUNTY, Fla.- Lee County Commissioners have unanimously approved spending $4 million to entice a Fortune 500 company to relocate its corporate headquarters in South Lee County. The name of the company remains confidential.

"I like this agreement because they have to put up the money first, not us," said commissioner Frank Mann during a meeting Tuesday.

"Contractually, this is favorable to Lee county," said commsr. Larry Kiker, a former corprorate executive. 

The company is trying to decide on a new place for its headquarters. Economic development officials say the move would be a great boon for the local economy, and would enhance the status of the county as a place for business. The name of the company should be revealed in a few days, when it makes its final decision. Officials indicate they would probably try to hold a big ceremony, if the company decides top move here.