The Jacksonville City Council approved a $1.83 million grant to Project End Game, an unidentified financial technology company that plans to create 673 full-time jobs by year-end 2024.
Council voted 17-0 on Aug. 24 to approve Resolution 2021-0436 and the development agreement to provide End Game’s requested target industry grant.
In addition, the state proposes a CareerSource Florida Quick Response Grant up to $4,000 per job for 673 positions, which totals $2.692 million.
According to a June 16 project summary from the city Office of Economic Development, End Game said it will make a $6.4 million capital investment in real estate improvements, information technology equipment, furniture and fixtures.
City officials have not released where in Jacksonville End Game wants to locate.
The fintech company told city officials it intends to create a minimum of 673 full-time jobs by Dec. 31, 2024, but the agreement with the city applies incentives to 407 of those. The city grant provides $4,500 per job.
The annual payroll from the 673 new full-time jobs is $65.2 million, or about $97,000 per job, according to the summary.
According to the city Economic Development Executive Director Kirk Wendland, the 266 positions that are not part of the incentives are classified as call center jobs that are not covered under the city’s public investment policy.
The Jacksonville grant will be payable in $1,125 per-job increments over four years after the average wage and job creation is verified by the city.
Economic development officials said the city will receive $1.07 for every $1 invested in End Game.
Council members Tommy Hazouri and LeAnna Cumber were absent for the vote.
Hazouri’s absense was due to hospitalization. His executive council assistant issued a news release during the meeting.
“Long time beloved Councilman Tommy Hazouri has been hospitalized due to complications from his lung transplant surgery last year. While he is being treated at The Mayo Clinic, the Hazouri family asks that you keep Tommy in your prayers and that their privacy be respected during this time.”