Unnamed manufacturer plans bigger investment in St. Johns (Courtesy of the Jacksonville Business Journal) — A company with plans to build a manufacturing facility in St. Johns County is coming back to the Commission for more tax incentives due to a proposed increase in its investment.
The name of the company is still confidential because it is considering other sites, so it has been dubbed Project Krew.
According to county documents, the operation planned is “pharmaceutical preparation manufacturing.” Earlier this year, the company was approved for tax rebates of up to $4.6 million.
However, the expected investment in St. Johns County has gone from approximately $112 million to $145 million. So the requested tax rebate would be about $5.8 million over nine years.
The new proposal will go before commissioners on Sept. 5.
Project Krew is expected to occupy more than 150,000 square feet of industrial space. Although the exact location has not been revealed, documents indicate that there will not be a need for a zoning change.
The project will bring an estimated 100 direct jobs initially and will grow to an estimated 400 direct jobs. That’s an increase from the previous plan in which the total number of jobs created was expected to top out at 324.
“In addition to offering career opportunities with substantial benefits, Project Krew would add to the County’s manufacturing and health and life sciences profile,” Interim County Administrator Joy Andrews said in a memo. “The project would also significantly increase the County’s stock of high-tech capital (i.e. robotics equipment) and high-skilled labor.”
If incentives are approved and the company chooses St. Johns County, the project is anticipated to begin operations by the second quarter of 2026. The first annual grant payment would be anticipated during Fiscal Year 2028.