JAX Chamber announced Feb. 23 that Malnove, a folding carton manufacturer, is expanding and upgrading its Jacksonville plant.
The Jacksonville City Council approved a $160,000 property tax incentive Dec. 8 for Malnove Holding Co. Inc.
“This expansion in Jacksonville is an important next step as we expand in the Southeast and is critical to the overall growth of our company,” said Dale Houck, president of Malnove, in the news release.
“We’ve had success hiring and developing highly-skilled employees in Jacksonville and look forward to continuing to grow here,” he said in the announcement.
Council voted 19-0 for Resolution 2020-0727 to offer the Omaha, Nebraska-based company a five-year, 50% Recapture Enhanced Value Grant in exchange for creating 10 full-time jobs and investing $7.4 million investment in machinery, equipment, furniture and fixtures.
Malnove is required to have the 10 jobs in place by the end of 2024.
JAX Chamber said the expansion will create the new jobs and retain 182 jobs at the company’s Imeson International Industrial Park facility in North Jacksonville.
Malnove, established in 1948, makes packaging products for customers, primarily in the foods industry. It has two other plants in Utah and Nebraska.
Malnove opened its Jacksonville plant in 1981. It said it has had five consecutive years of revenue growth in revenue.
“Malnove is another example of a company that could have chosen to expand anywhere and made the decision to invest here in Jacksonville,” said JAXUSA Partnership President Aundra Wallace.
Mayor Lenny Curry said the announcement “further enhances our city’s reputation as a hub for advanced manufacturing.”
The company built its 235,000-square-foot Imeson manufacturing facility in 1998, according to a memo from the city Office of Economic Development.
Malnove also leases 100,500 square feet of additional warehouse space.
The performance schedule in the economic development agreement shows Malnove completing the equipment purchase and installation by Dec. 31, 2022.
Council amended the bill Dec. 8 to include a clawback that allows the city to recoup the $160,000 if the jobs are not created.
A legislative fact sheet calls the jobs entry-level. The positions would pay $36,500 per year plus benefits, which does not meet minimum wage requirements for REV Grants in the city’s public investment policy. Council waived the rule by approving the bill.
Staff writer Mike Mendenhall contributed to this report.