The Jacksonville City Council approved a $260,000 tax incentive Feb. 9 for an undisclosed national pharmaceutical and medical device distributor planning to lease space in Northwest Jacksonville for its Southeastern U.S. distribution center.
Council voted 19-0 to authorize resolution 2021-0063 for a Recapture Enhanced Value Grant for the code-named Project Robalo.
Documents filed with the bill say the company is considering leasing 131,000 square feet of a newly developed warehouse.
Robalo told city Office of Economic Development officials that it will invest $6.72 million and create 25 full-time jobs by year-end 2023 under the economic development agreement tied to the bill.
Dublin, Ohio-based medical supplies distributor Sarnova matches the description of Robalo.
Sarnova is shown on a Park 295 Industrial Park brochure as a new tenant in the industrial center at southwest Interstate 295 and Duval Road in Northwest Jacksonville.
Park 295 also houses Ulta Beauty and Quiet 3PF in Building B at 2619 Ignition Drive.
Robalo seeks a 50% REV Grant over 10 years up to $260,000.
Council approved an amendment to the bill and economic development agreement Feb. 9 that lowered the annual average salary of the jobs created by the deal to $49,472 plus benefits. Documents created by the city Office of Economic Development in November and filed with the bill in January said Robalo would pay an average $58,594 plus benefits.
The city will require Robalo to make a minimum $3 million capital investment in the project site by Dec. 31, 2023, to receive the REV Grant, which refunds a percentage of the increased property tax revenue the city gains from improvements to private property.
Robalo also will have to show all jobs are in place by the end of 2023 under the agreement.
The pharmaceutical and medical device distributor will need to complete $2.4 million in leaseholder improvements to the warehouse by Dec. 31, 2022.
The REV grant will be revoked if the company does not invest at least $3 million by the end of 2023, according to the agreement.