The city is considering a FlexCold LLC request to more than double its property tax incentive as it expands its cold-storage warehouse in North Jacksonville.
FlexCold now seeks a $2.5 million incentive, an increase from the $1.1 million approved by City Council in 2021.
The Mayor’s Budget Review Committee is scheduled to vote Dec. 12 on filing legislation with the Council to amend the redevelopment agreement.
According to a Nov. 28 memo from the city Office of Economic Development, the proposal would increase the cap of FlexCold’s Recapture Enhanced Value Grant, a property tax refund, from $1.1 million to $2.5 million.
The international frozen protein distributor is increasing the size of its 11180 Blasius Road facility from 150,000 square feet to 346,000 square feet.
The city project summary says that will result in an increase in FlexCold’s total capital investment in the warehouse from $47 million to $115 million.
According to the summary, FlexCold told the city the expanded facility would create 40 full-time jobs, up from 20 in the original agreement.
The jobs would have an average annual wage of $55,422 plus benefits, according to the city summary. FlexCold would be required to have the jobs in place by Dec. 31, 2025, to receive the city incentive.
The city summary says FlexCold’s expansion is a response to marketplace demand, and the company said the incentives were a material factor in its decision to expand in Jacksonville.
The city economic development office estimated the higher REV grant will have a $4.37 return for every $1 invested by the city.
If approved by the budget review committee, the bill would be filed with Council to be introduced at its Jan. 10 meeting.
Although the REV grant payout cap is increasing, the terms of the REV grant remain a five-year, 50% refund of the increased taxable value of the property.
South Carolina-based FlexCold announced Oct. 20 it had opened the 150,000-square-foot facility.
The city is reviewing civil engineering plans for what is shown as a proposed 170,440-square-foot expansion as FlexCold Phase 2.
ARCO Design/Build LLC of Atlanta and Jacksonville-based England-Thims & Miller Inc., the project’s civil engineer, submitted the plans Oct. 12.
The warehouse is 3 miles from JaxPort’s Blount Island Marine Terminal.
Both phases will occupy a 23.8-acre site at southwest Faye and Blasius roads.
FlexCold said in a news release that the first phase at 11180 Blasius Road offers 25,000 pallet positions and is divided among four areas: two convertible rooms that can be used for refrigerated or frozen products; a freezer room where temperatures are maintained below zero degrees; and a blast freeze room where products like poultry can be frozen to zero degrees within 36 hours.
It said USDA and FDA inspections are provided on-site.
The release said JaxPort is Florida’s No. 1 container port and provides access to more than 98 million consumers within one day’s drive and direct ocean services to 140 ports in 70 countries.
Editor Karen Brune Mathis contributed to this report.