“Project Wolfe,” seeks $535,000 in additional economic development incentives for a Downtown office.
The Jacksonville-based IT services company is asking the city and state for a Qualified Target Industry Tax Refund grant of up to $5,000 each for 107 jobs the company plans to relocate by year-end 2021.
The city would be responsible for 20 percent, or $107,000, with the state responsible for the rest. The QTI incentive is payable over a four-year period.
The Mayor’s Budget Review Committee on Monday gave Kirk Wendland of the Office of Economic Development the OK to submit legislation tied to the incentives to City Council.
In addition, the Downtown Investment Authority in May approved Wolfe to receive discounted parking rates for 40 employees at the Yates Garage at 200 E. Adams St., behind the Duval County Tax Collector’s Office.
The company must create 40 jobs by Oct. 1 to receive the parking discount of $40 per month, per the DIA agreement.
Wolfe has 650 employees worldwide and is expected to lease 8,000 to 10,000 square feet of office space Downtown.
According to Wendland, the company already has executed a lease.
Through the DIA resolution, the company states it proposes to invest at least $1.4 million in building renovations.
The employees will make an average annual salary of $53,298.
Legislation approving the economic development agreement is expected to be introduced by early July.