Project Danville kicks off the year as the first code-named project to seek city incentives to create jobs.
A city project summary describes Danville as an international distribution company that is considering Jacksonville and other locations for a $50 million project that will create up to 87 full-time jobs by year-end 2022 at an annual average wage of $57,540 plus benefits.
No location or warehouse size is specified, just that Danville is “evaluating an expansion into a new facility in Jacksonville.” The $50 million capital investment would comprise $5 million for real estate improvements and $45 million for machinery, equipment, furniture and fixtures.
The location would serve the company's customer base in the Southeast. U.S. Danville also is looking at sites in several other states that include Georgia and North Carolina, the summary says.
The annual payroll would be $5 million, excluding benefits.
The Office of Economic Development is scheduled to ask the Mayor's Budget Review Committee on Monday for approval to introduce a resolution to City Council on Jan. 22 to approve an economic development agreement.
The committee meets at 2 p.m. Monday in the fourth floor Mayor's Conference Room at City Hall.
Danville is requesting a Qualified Target Industry Tax Refund for creating the jobs. The project summary refers to an incentive of up to $3,000 per job between the city, which would refund 20 percent, and the state, at 80 percent.
Based on that calculation, the total incentive would be up to $261,000 with the city responsible for $52,200 ($600) per job) and the state would refund $208,800 ($2,400 per job) after the jobs are created and taxes paid.