The city proposes a five-year Recapture Enhanced Value Grant of up to $1.1 million for FlexCold to develop a processing and distribution facility near the Blount Island Marine Terminal in North Jacksonville.
The Mayor’s Budget Review Committee will consider authorizing the introduction of a resolution for the incentives at its meeting at 2 p.m. March 8 at City Hall.
The legislation would allow the administration to execute an economic development agreement with the city and FlexCold LLC and 11180 Blasius Road LLC.
The city proposes the incentive so that South Carolina-based FlexCold chooses Jacksonville rather than other port cities on the U.S. East Coast for the $47.3 million investment and the creation of 20 jobs.
FlexCold proposes a 150,000-square-foot facility at 11180 Blasius Road.
The jobs would pay an average wage of $51,192, plus benefits, by year-end 2023. The capital investment would comprise $28.6 million in real estate improvements and $18.76 million in machinery, equipment, furniture and fixtures over the next two years.
The summary says the incentive supports the expansion of a targeted industry business and adds to the area’s logistics, warehouse and distribution base.
The REV Grant is based on 50% of the increase in real and personal property taxes generated at the project site for five years up to $1.1 million. The private capital investment must be at least $30 million and FlexCold must create at least 20 jobs, all by the end of 2023.
The summary describes FlexCold as an international distributor of frozen protein. It says FlexCold stated that the incentive is a material factor in its decision to further develop its logistics, warehouse and distribution center in Jacksonville.
The city already is considering plans for it.
Charleston-based Flexspace Ventures LLC is working toward developing a FlexCold warehouse in North Jacksonville.
The company says on its FlexCold.com site the almost 150,000-square-foot cold-storage facility with more than 25,000 pallet positions will open in April 2022.
The Jacksonville Planning and Development Department is reviewing plans for the project on 12.06 acres at 11180 Blasius Road at southwest Faye and Blasius roads. The site is about 3 miles from JaxPort’s Blount Island and Dames Point marine terminals in North Jacksonville.
The application describes the structure as 151,068 square feet with parking spaces for 29 cars and 52 trucks.
ARCO Design/Build LLC of Atlanta is the developer. Jacksonville-based England-Thims & Miller Inc. is the civil engineer.
England-Thims & Miller filed civil engineering plans with the city Feb. 26.
The firm also applied to the city for an administrative deviation to reduce the minimum number of parking spaces from 86 to 29 on behalf of the owner, Flexspace Ventures LLC.
That plan shows a 149,635-square-foot warehouse and a future building of 23,000 square feet.
“Cold storage warehousing has become more automated and has less parking demand as a result,” said the application for the parking deviation.
Flexspace Ventures registered FlexCold LLC and 11180 Blasius Road LLC with the state Feb. 24.
The FlexCold.com site calls the project “a new era in cold chain logistics.”
The site says the Flexspace mobile racks comprise a racking superstructure installed to powered moving bases.
“The innovative, lateral movement replaces multiple conventional, static, open aisles with one moving access aisle,” it said.
It says the design combines direct, unobstructed access to inventory and a substantial increase in storage density.
