Code-named Project Graph is asking for $690,000 in taxpayer-backed incentives to expand its existing Jacksonville software design operation.
The Mayor’s Budget Review Committee will consider a proposal Feb. 10 to file legislation with City Council that would enter Project Graph in the state’s Qualified Targeted Industry Tax Refund program to create 115 full-time jobs.
A city Office of Economic Development project summary says the medical software company would receive a $6,000 refund per job. The state would pay 80%, or $552,000, of the total incentive. The city would offer 20%, or $138,000.
Project Graph told city officials the average annual wage would be $71,663 and the jobs would be created by Dec. 31, 2022.
City economic development officials expect the annual payroll from the company’s expansion to be $8.2 million before benefits.
The software company would invest $2.15 million in real estate improvements, information technology equipment, furniture and fixtures, according to city documents.
A legislative fact sheet from the city says the company is considering “a few other cities” for its proposed expansion and the incentives are a “material factor” in Project Graph’s decision to expand in Jacksonville.
If the MBRC votes to move the incentive deal forward, the economic development office expects to file the bill at the Council’s Feb. 25 meeting.