Aaron Bowman has high regard for Fidelity Investments.
The City Council member and JAXUSA Partnership executive says the company helps put Jacksonville on the map internationally. Fidelity is a known quantity, proving itself locally for almost a decade. And the possibility of losing an expansion was there.
A deal announced Tuesday instead landed 300 more financial sector jobs along with a $13 million capital investment.
The jobs would bring $19.3 million annually in additional payroll and generate $4 million in property taxes over 20 years.
In return, the Boston-based company would receive $2.6 million in taxpayer incentives.
The city would be responsible for $448,000. That entails a $128,000 Recaptured Enhanced Value grant, generated from the increase in property taxes from the company’s investment, and a $360,000 Qualified Targeted Industry grant on the created jobs.
The state will account for the remaining $2.13 million.
The incentives were a large part of Fidelity’s reason for locally expanding, said Fidelity regional manager Harold Stankard — but maybe not the top reason.
Having the “right level of talent” available locally to fill another 300 licensed positions was key. Area colleges have been good sources, he said, but job changers and military veterans also have been valuable additions.
Recruiting for the additional jobs begins immediately with likely hires coming aboard in the first quarter of 2016.
The jobs have to be created over a three-year period.
The company would stay at its Southside offices and acquire new space in the area. Stankard said those details would be finalized in the coming weeks. The $13 million would go toward acquisition, build-out, information technology and other related needs.
City Council President Greg Anderson said those types of investments mean more jobs, especially for young professionals. Additionally, he said Fidelity Investments is a good corporate presence that supports both the community through its workforce and community service efforts.
The company has almost 45,000 employees worldwide, places Anderson lists like Canada, China and India.
“And Jacksonville,” he said. “It’s absolutely a great win for us.”
Mayor Lenny Curry echoed the same during the afternoon announcement, when he called the city a destination for such financial sector jobs.
Or as Bowman says, it keeps Jacksonville on the map.
@writerchapman
9904) 356-2466