By Mike Mendenhall and Karen Brune Mathis
A $1.1 million tax incentive for a proposed FlexCold processing and distribution facility near the Blount Island Marine Terminal in North Jacksonville is headed to City Council.
The Mayor’s Budget Review Committee voted 5-0 on March 8 to file legislation that includes a five-year Recapture Enhanced Value Grant that is part of the economic development agreement.
According to records from the city Office of Economic Development, parties in the three-way deal are FlexCold LLC, 11180 Blasius Road LLC and the city.
South Carolina-based FlexCold requested the incentives as it considers several U.S. East Coast port cities for the $47.3 million investment.
The company told city officials the facility would create 20 jobs at a proposed 150,000-square-foot facility at 11180 Blasius Road.
Kirk Wendland, city economic development executive director, said the cold storage project has nearly doubled in scope since incentive negotiations began a year ago.
The jobs would pay an average wage of $51,192, plus benefits, by year-end 2023. The capital investment would comprise $28.6 million in real estate improvements and $18.76 million in machinery, equipment, furniture and fixtures over the next two years.
The bill could be filed by March 17.
A project summary provided by the city says the incentive supports the expansion of a targeted industry business and adds to the area’s logistics, warehouse and distribution base.
The REV Grant is based on 50% of the increase in real and personal property taxes generated at the project site for five years, up to $1.1 million. The private capital investment must be at least $30 million and FlexCold must create at least 20 jobs, all by the end of 2023.
The summary describes FlexCold as an international distributor of frozen protein. It says FlexCold stated that the incentive is a material factor in its decision to further develop its logistics, warehouse and distribution center in Jacksonville.
The city already is considering plans for it.
Charleston-based Flexspace Ventures LLC is working toward developing a FlexCold warehouse in North Jacksonville.
The Jacksonville Planning and Development Department is reviewing the project on 12.06 acres at 11180 Blasius Road at southwest Faye and Blasius roads. The site is about 3 miles from JaxPort’s Blount Island and Dames Point marine terminals in North Jacksonville.
The application describes the structure as 151,068 square feet with parking spaces for 29 cars and 52 trucks.
ARCO Design/Build LLC of Atlanta is the developer. Jacksonville-based England-Thims & Miller Inc. is the civil engineer.
England-Thims & Miller filed civil engineering plans with the city Feb. 26.
The firm also applied to the city for an administrative deviation to reduce the minimum number of parking spaces from 86 to 29.
That plan shows a 149,635-square-foot warehouse and a future building of 23,000 square feet.