There are so many pieces that need to come together to make economic development deals happen.
We had almost everything in place to see the logistics and distribution booms we’re now seeing in Jacksonville. We had the geographic advantage of being the westernmost port on the East Coast. We had hundreds of millions of dollars invested into deepening the harbor for JaxPort. We had a skilled workforce and programs in place to train more people.
The missing piece was warehouse space. Companies wanted space they could move into quickly. Time is money, as we all know, and time was working against us.
Our partners in the commercial real estate industry stepped in to fill the void and we are seeing the benefits today.
This push to build spec warehouse space began several years ago, reaching a high in 2023 when 6.8 million square feet of space came online – the same amount that was delivered between 2019 and 2022.
This trend is not slowing down – and won’t any time soon.
There is currently 3.5 million square feet of space under construction, with another 5.1 million square feet proposed for 2025. These projects range from 90,000 square feet up to 650,000 square feet, providing options for companies of all sizes.
Having a building ready to go can be the difference in a company choosing Jacksonville or another location.
Now, I’d argue we’re the place to be anyway.
Our location, along with our robust interstate and rail access, gives companies same-day access to more than 98 million people.
Amazon started with one facility here and now has 10 in Jacksonville. Other big companies have invested here, with more to come.
Commercial real estate developers have played a critical role in our growth for all sectors – the foresight on distribution and warehouse space is just one example.
JAXUSA Partnership is the economic development division of JAX Chamber.