An international banking and finance company interested in bringing 123 jobs to Downtown is a step closer to receiving $1.8 million in taxpayer dollars if it comes to Jacksonville.
What company is in the running for the money, though, isn’t yet known — state law allows it to remain anonymous until a destination is selected.
The City Council Finance Committee on Monday unanimously approved the incentives package, which would provide $393,600 in city incentives and another $1.37 million from the state.
Council member Aaron Bowman, who serves as JAXUSA Partnership senior vice president of business development, said company officials were in town for a week before Jacksonville was selected as a finalist. The city is in competition with two others in the Southeast for “Project Post.”
“The fact that they came back and selected us is amazing,” said Bowman, who described the project as “interesting.”
Despite his role with the chamber, Bowman said he will be voting on the issue after he cleared it with city ethics officials to determine there is no conflict of interest.
Ed Randolph, with the city’s economic development office, told committee members the company would create the 123 jobs by the end of 2017.
Those jobs would create about $8 million in annual payroll, with each job having an average pay of $64,356 a year plus $20,000 in benefits.
The company, Randolph said, has been looking at different Downtown buildings to invest about $3 million into a space. He didn’t name which buildings were under review.
The city would be responsible for its 20 percent share of a Qualified Target Industry grant, which comes to $147,600.
It also would provide $246,000 for a Quick Response Training grant.
The state would provide the majority of both, $549,400 for the QTI and $282,900 for the training grant. Additionally, it would give $500,000 to the company through the Quick Action Closing fund.
The deal is slated to be heard by the full council next week, the first for the mostly new group.
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