Grace Aerospace LLC seeks city and state incentives to expand its West Jacksonville presence at Cecil Commerce Center.
Through legislation filed Wednesday, the New York-based manufacturer of wire harnesses and other electronic equipment for military aircraft wants $100,000 in incentives in exchange for hiring 20 new full-time employees and to move into a second facility.
The expansion would be the second for the company in Jacksonville since it arrived in 2015.
According to a legislative fact sheet, the new employees must be hired no later than year-end 2020 with average annual salaries of at least $50,675.
Grace Aerospace must hire 10 new employees per year in 2019 and 2020.
The incentives come from a Qualified Targeted Industry Tax Refund grant worth $5,000 for each new employee, up to $100,000.
The city would be responsible for 20 percent, or $1,000 per new hire, with the state funding the rest.
Grace Aerospace can obtain the incentives over a four-year period beginning in 2020, but only if the new employees are hired.
The company leases 10,146 square feet at 13541 Lake Newman St. in Building 905 at Cecil Commerce Center.
It wants to expand into a vacant 15,860-square-foot space in Building 905 under a new four-year agreement.
According to the fact sheet, Grace Aerospace proposes to invest $295,000 in new furniture, manufacturing equipment and real estate improvements.
The fact sheet states Grace Aerospace has 45 employees in Jacksonville, although according to an economic development agreement filed with the legislation, the company only is responsible for maintaining 39 full-time employees along with the 20 new hires.
The company estimates the new jobs will generate $1.01 million in additional payroll, excluding benefits and will “generate significant new ad valorem taxes, including significant new tax revenues for the public school system,” according to the economic development agreement.
The resolution, 2018-0286, is on a “fast track” through City Council committees and requires only two public hearings before a full council vote.
It will be introduced at the council meeting Tuesday, followed by public hearings in the Finance subcommittee.
Grace Aerospace did not immediately return a phone call requesting comment on the expansion.