City approves financial incentives for Project Moon

Jacksonville financial services company gets $50,000 for expansion.
By: 
Apr. 10, 2018

City Council approved $50,000 in financial incentives Tuesday for Project Moon, the code name for a Jacksonville financial services company looking to expand.

The bill passed 19-0 without discussion.

A project summary for Moon says that the company employs 200 people in Jacksonville and plans to add 50 new financial services positions by December 2019 at an average wage of $52,396.

The company promises to invest at least $125,000 in IT equipment, furniture and other improvements to support the new hires.

Council approved the city’s 20 percent share of a Qualified Target Industry Tax Refund grant, worth $50,000. The state needs to approve its 80 percent funding of the grant, worth $200,000.

The grant provides $5,000 for each new employee Moon hires.

The project summary says Moon has been awarded state and city incentives for a previous expansion at its existing but unidentified location and has met contractual performance measures to date.

The additional annual payroll in Jacksonville will be more than $2.6 million a year, excluding benefits.

New rule for board members seeking jobs

Existing members of a city board or commission who apply for a paid job with the agency, department or entity the board or commission oversees must now resign within 24 hours.

The rule change, introduced by council member Greg Anderson, was approved 19-0.

An effort by council member Al Ferraro to extend those restrictions to the board or commission members’ immediate family was withdrawn after several council members said they could not support the amendment.