Jax manufacturer seeks incentives to expand, add 120 jobs

Jax manufacturer seeks incentives to expand, add 120 jobs (Courtesy of the Jacksonville Business Journal) — An existing manufacturing company in Jacksonville is seeking to expand its footprint and may receive up to $1.1 million in city incentives, according to city records.

Office of Economic Development staffers have proposed to provide the company with a Recapture Enhanced Value Grant based on 50% of the increase in real and personal property taxes generated at the project site, for five years, up to a maximum of $1.1 million.

The company was not identified in records, but is described as “a highly skilled niche manufacturer” that would add to the skilled labor base in Jacksonville.

The Mayor’s Budget Review Committee is scheduled to review the proposal Monday.

The business, which is under the codename Project Rotunda Company, plans to spend $44 million in capital investment on a new location in Jacksonville.

Expanding would add 120 new jobs in the next three years and 240,000 square feet of manufacturing space.

The average wage for the new employees not including benefits is $62,000.

Numerous locations in the Southeast and Texas have recruited Project Rotunda Company to relocate, but the company would like to maintain its current employees and is considering Jacksonville, according to documents.

Incentives from the city, however, are a material factor to remain.

Within the last few years, incentives approved by the Jacksonville City Council have been tied to many companies’ expansion plans in Jacksonville.

Companies such as German manufacturer of autonomous electric shuttles Holon and food service distribution firm Anderson-DuBose have committed to massive expansion projects in Jacksonville with the approval of city incentives.

And many companies are already making progress on their growth plans at the start of 2025.

Last month, financial services company Intercontinental Exchange, the recipient of a $21 million incentive package from the City of Jacksonville, found a location for its promised 2,000 employees.