Two code-named projects that would generate 100 jobs are scheduled to be presented Monday to the Mayor’s Budget Review Committee.
Kirk Wendland, executive director of the city Office of Economic Development, will ask for permission to submit legislation for economic development agreements with Project Buckeye and Project Grid.
Together they seek incentives of almost $1.2 million, comprising $733,400 from the city and $429,000 from the state.
Project summaries say Buckeye and Grid stated that city and state financial incentives are a material factor in their decisions.
The Office of Economic Development wants to introduce resolutions for the projects July 24 to City Council.
Project Buckeye is a manufacturer and distributor of children’s toys, art and stationery projects.
New Jersey-based Buckeye makes products in the Midwest and stores and distributes from a New Jersey center.
It is evaluating consolidation of those facilities in Northwest Jacksonville, according to a project summary.
Buckeye proposes to create 21 full-time management and distribution jobs at an average wage of $53,298 by Dec. 31, 2021.
The positions would include production supervisors, management staff and warehouse personnel. There also would be 50 more jobs for seasonal needs.
It would lease a 293,000-square-foot building of manufacturing and distribution space to be developed in Northwest Jacksonville at a cost of $12 million.
Buckeye would invest $560,000 in manufacturing equipment, furniture and fixtures, the summary said.
A separate legislative fact sheet says Buckeye would invest an estimated $965,000 in building renovations and the purchase of manufacturing equipment.
Buckeye seeks total incentives of $689,000 comprising a $626,000 city REV grant and a QTI refund up to $63,000, or $3,000 per job, paid by the city and the state.
From the city it seeks incentives of $638,600 comprising a REV grant of $626,000 over 10 years and a QTI grant of $12,600, or $600 per job, to be paid over five years after jobs and wages are created and verified.
The city would repay 20 percent of the total QTI grant. The state would refund the remaining 80 percent, or $50,400.
The REV Grant is based on 50 percent of the net increase in county ad valorem real and tangible property taxes based on the private capital investment of $12.6 million for 10 years after completion of the manufacturing facility.
The summary said Buckeye is evaluating three cities in Florida, as well as areas outside the state, to relocate manufacturing and distribution facilities.
Project Grid is a Jacksonville company that handles the processing and sale of products not described in the city’s project summary.
It employs “thousands” of people at worldwide locations.
Grid proposes to create 79 jobs to handle IT, accounting, human resource and procurement functions related to its international locations.
The jobs would pay an average wage of $69,520 and be created by Dec. 31, 2022.
Grid would lease about 15,000 square feet of additional office space for the expansion and invest about $790,000 in renovations and the purchase of office equipment the first few years of operation.
Grid says the incentives also are a factor in retaining its existing employees, who make an average wage of $140,000, in Jacksonville as opposed to another U.S. city.
Grid seeks a QTI refund of up to $474,000, or $6,000 per job, to be paid over eight years after wages and jobs are verified.
The city’s 20 percent would be up to $94,800 and the state would pay up to $379,200.