The grant is for the construction of a hospital at Interstate 95 and County Road 210.
The St. Johns County Commission approved up to $1,444,022 in economic development incentives for Ascension St. Vincent’s to build a hospital in the northern end of the county.
The board approved a motion Dec. 15 that allows the county attorney to draft an economic development agreement that would be voted on at a later meeting.
The health system has started construction on the 230,000-square-foot hospital at 10120 C.E. Wilson Road in the Fountains North Development at northeast Interstate 95 and County Road 210.
“We look forward to continuing to partner with local officials to ensure we are doing everything we can to help this community and to provide residents with the care they need, when and where they need it,” said a statement from the hospital.
The hospital and medical offices will be built in two phases. The request for incentives would be used for the first phase, according to a memo from the St. Johns Deputy County Administrator Joy Andrews.
It is expected to create 450 new jobs with an average annual wage of $81,500, more than 125% of the county’s average wage rate.
The first phase of construction is expected to be completed in summer 2022. The first grant payment would occur in 2024, if construction stays on schedule.
The incentives would include expedited permitting and an economic development grant of up to 100% of fees paid to the county, four years of ad valorem tax on capital improvements and four years of tangible business personal property tax.
Ascension St. Vincent’s broke ground on the hospital Dec. 4.
Be the first to know the latest breaking news and information that business leaders rely on in this fast-paced changing Northeast Florida economy. Regional business news, trends and statistics needed to grow your business. Key upcoming events you won’t want to miss and much more. Click Here to Grow your Business NOW!