Two companies are planning major expansions in Jacksonville that will bring nearly 300 well-paying jobs to the area.
But in order to expand, the companies are asking the city to consider economic incentive packages.
The companies are not being named, but the Jacksonville City Council is considering the incentives in Tuesday's meeting. The companies are simply known as Project Avalanche and Project Velocity.
The companies say Jacksonville is competing with two other cities for the expansions.
Public records show Project Avalanche provides healthcare information technology, while Project Velocity is a global manufacturer of building products. Avalanche says it would retain 300 jobs and add 250 more by 2021.
The average wage for the jobs? $70,000 per year.
The company is also looking to invest $12.1 million in equipment and other improvements. It's asking for $300,000 in public investment in the form of a tax refund program.
Project Velocity promises to retain 150 jobs and add 20 more at an average wage of $40,000 a year. That company says it's investing $54 million in property improvements and high-tech equipment. The city's portion would be $2.2 million in the form of tax abatement over seven years.
It's unclear where the companies are located but we know that Project Avalanche is the southeast area of the city, and Project Velocity is looking to expand into a distressed area of North Jacksonville.
Cox Media Group
