Published: Nov 19, 2013 12:43 PM EST
Updated: Nov 19, 2013 12:47 PM EST

LEE COUNTY, Fla. - Lee County Commissioners approved spending $1.48-million tax-payer dollars to attract another big name company to the area during Tuesday's commission meeting. As with Hertz's move to Southwest Florida, those who know, are not talking.

While the name of that company has yet to be revealed, it's said to be one that the public will recognize.

Lee County's Director of Economic Development, Glen Salyer told the board of commissioners it is a "decades-old," "credit-worthy" company.

The unnamed corporation is expected to bring 400 jobs to the area by 2020.

Commisioner Cecil Pendergrass mentioned making sure we keep in mind local builders and construction managers in the process of bringing the company in. The commissioner also suggested keeping any temporary offices in Lee County. Hertz currently has a temporary headquarters in North Naples while their permanent location in Estero is being constructed.

The county is also working to make sure the mystery company would follow through on several promises, such as bringing in a set number of jobs, before getting a payout. VR Labs received five-million dollars from Lee County to establish a bottling plant in San Carlos Park, but has only hired a handful of jobs and is not performing as expected. The FBI is currently investigating the company.

Commissioner Larry Kiker, who was appointed as new chairman of the board Tuesday, said that the county has learned from past experiences to establish criteria before giving money to a company.

Commissioners expect to hear whether the company will choose Lee County over two other potential locations by sometime in January of 2014.