JACKSONVILLE, Fla. – A company operating under “Project Newark” is looking to expand its presence in Jacksonville.
The proposal from the Jacksonville Office of Economic Development said the potential project is expected to bring an investment of about $135 million and 300 new full-time jobs.
According to city documents, the Phoenix area could be the potential landing spot.
“It’s very competitive, but we’re feeling good about this one,” Ed Randolph, executive director with the Office of Economic Development, said.
Documents say the manufacturer already has operations in the city and is looking to build additional facilities to support the making of “new smokeless nicotine and a smokeless caffeine pouch product.”
The city is looking to utilize a Recapture Enhanced Value (REV) Grant as an incentive. The grant would be for 50% of the increase in real and personal property taxes generated at the project site. The incentive would last for five years and go up to $3.5 million. The grant is contingent on creating at least 200 jobs.
The plan lists the end of December 2027 as the deadline for construction to be completed and says a failure to create the required jobs would result in termination of the grant.
“The REV grant is really the simplest thing with the least harm,” Randolph said. “Because the company is actually paying their tax bill and you’re just refunding a portion of that back.”
If the company selects Jacksonville and expands in Phoenix, Randolph said it would be going to an area in need.
“It really is going to create quite a bit of energy and again, considering the district it’s in,” he said. “We’re truly excited about the amount of jobs and having this clean technology facility, hopefully which will create other jobs and other opportunities and draw the manufacturers to that area.”
He said the median household income is currently about $37,000 a year, with a poverty rate of about 50%.
He said the average wage of the new jobs would be about $70,000.
“The company has agreed to work with some of the neighborhood groups there on doing job, announcements, and training,” he said. “We’re hoping to really employ folks that are located within a few miles of the actual facility if they do, choose Jacksonville.”
The Finance Committee passed the incentive package unanimously. It will now head to the City Council on Tuesday.
The Office of Economic Development said it’s down to Jacksonville and a city in South Carolina.
