An unidentified company will seek approval from City Council in February for $52,000 in city-backed financial incentives in exchange for creating 87 manufacturing jobs.
On Monday, the Mayor’s Budget Review Committee gave the Office of Economic Development approval to file legislation tied to Project Danville, a code name used for an international distribution company’s identity.
The deal can proceed with a code name as the company negotiates incentives with the city and state.
According to city documents, Danville wants to establish a customer base in the Southeast and Jacksonville is on the shortlist for the center. A project summary says the company also is considering Georgia and North Carolina.
Kirk Wendland, executive director of the Office of Economic Development, declined to say which Jacksonville sites are in consideration by Danville.
A city project summary says Danville would hire 87 full-time employees by the end of 2022 at an average annual wage of $57,540 plus benefits.
The $50 million project is expected to comprise a $5 million real estate investment and $45 million for machinery, equipment, furniture and fixtures.
Danville requests a Qualified Target Industry Tax Refund for creating the jobs.
The project summary refers to an incentive of up to $3,000 per job between the city, which would refund 20 percent, and the state, at 80 percent.
Based on that calculation, the total incentive would be up to $261,000 with the city responsible for $52,200 ($600) per job) and the state would refund $208,800 ($2,400 per job) after the jobs are created and taxes paid.
With the budget review committee approval, Wendland said his office will introduce legislation to council members for the Jan. 22 meeting.