The businessman who struck a $500,000 economic-development incentive deal with Charlotte County in 2010 to bring his luxury yacht-manufacturing company to Punta Gorda rejected criticism from county officials that he took taxpayer money without producing results.

In an interview with the Sun this week, Michael Antalec confirmed his company, Australia Yachts, severed business ties in July with the county’s Industrial Development Authority, under a settlement agreement in which the IDA paid Australia Yachts $87,000 to vacate warehouse space on Challenger Boulevard by July 31.