Council committees OK incentive for Titan Florida ready-mix plant (Courtesy of the Jacksonville Daily Record) — Titan Florida, which operates two ready-mix concrete plants in Duval County, could be on its way to adding a third after City Council committees recommended approval of grant funding that would cover a small portion of a Northwest Jacksonville project.
The Rules and Finance committees voted unanimously Jan. 2 and Jan. 3, respectively, in support of providing a $100,000 Northwest Jacksonville Economic Development Fund Business Infrastructure Grant to the company, which has proposed building an $18.37 million plant at 1712 N. McDuff Ave.
According to city documents, Titan sought the grant to offset a portion of the site development costs to make the project competitive with other Titan plants that are competing for development funding from Titan’s parent company, Titan Cement International SA. It is based in Athens, Greece.
Titan Florida is a subsidiary of Titan America, which operates as the U.S. arm of the international company.
The city Office of Economic Development reported that the plant would create 24 full-time jobs with an average annual wage of $54,708, which equates to 163% of the median household income in the site’s census tract. The annual payroll would be $1.3 million.
Council Finance Committee Chair Nick Howland said Titan operates dozens of plants throughout North America and “could have chose to expand anywhere.”
“We’re fortunate they chose to expand in Northwest Jacksonville,” he said.
According to a city auditors report, the proposed grant agreement would require Titan to began construction before March 1, 2024, and complete the plant by the end of 2027.
The agreement includes several clawback clauses in which the city can withhold disbursement of the grant. Among them, the company would be required to repay the city $4,166 per job if it creates fewer than 24 new jobs within 36 months of the grant disbursement.
The grant would be terminated under the agreement if Titan fails to invest at least $3 million by the end of 2027.
On its website, titanamerica.com, Titan says it operates in nine U.S. states and Canada.
Its Duval County operations comprise a ready-mix plant and terminal at 7330 Philips Highway and a ready-mix plant at 1220 Eastport Road.
In addition to ready-mix, Titan produces aggregates, concrete block, cement and fly ash.