Electric vehicle maker Cenntro Inc., which said in a July 9 news release that it is “winding down” its Jacksonville operations, told the city in 2022 it was withdrawing its request for an economic development agreement.
In 2021, City Council approved $450,000 in tax incentives as part of the economic agreement with Cenntro to open a manufacturing facility.
“After reviewing the agreement with our executive management team, we do not believe Cenntro is prepared to move forward at this time. We respectfully request Cenntro’s Economic Development Agreement dated, June 23, 2021, be withdrawn,” it said in the letter sent to the Office of Economic Development.