Food manufacturer looks to expand facility, workforce in Jacksonville (Courtesy of the Jacksonville Business Journal) — A global food manufacturer is looking to expand its presence in Jacksonville, including investing $65 million into its operation in the northwest part of the city.
To support the expansion, the company — which has been code-named Project Cashew — is requesting $3.6 million in incentives from the city. The mayor’s office will consider the request next week, with the final decision then being made by the City Council.
The company is looking to add additional products and different sizes of product offerings, according to a city memo, which would require the reconfiguration of its property. That work would entail $15 million in site improvements, $10 million in utility upgrades and $40 million in new manufacturing equipment.
Other states are being looked at for the expansion, the company said, which would double the output the facility can produce.
If the Jacksonville plant, which serves consumers throughout the Southeast, is expanded, it would retain 110 jobs and add 40 more at an average wage of $50,000, the company said. The jobs would be created by June 2025.
The incentives being requested include a $500,000 grant from the Northwest Economic Development Fund, with the money being paid out in 2024 assuming the expansion is complete. The company is also requested to have three-quarters of the property tax increase stemming from the expansion refunded over the coming decade, up to a maximum of $3.1 million.
Getting the grant would require the city to waive its public investment policy, which requires the creation of 50 jobs. The city’s Office of Economic Development said the waiver is justified because of the retention of jobs, the significant capital investment and the potential for future growth.
The city has been aggressive in recent days with tapping the Northwest Jacksonville Economic Development Fund for manufacturing expansions.
Earlier this month, the mayor’s office sent to City Council a request for a $200,000 grant from the fund for Project Fender, would see an unnamed company invest $2.5 million into renovating a building in the area for a new international headquarters. That project would add 100 manufacturing jobs with an average wage of $45,000, according to a city fact sheet.
City Council is also considering a request for a $50,000 grant from the Northwest fund for Sports Addix, a sports apparel manufacturer that recently moved its operation to Marshall Street, in the stadium district.
Photo courtesy of Food Engineering Magazine