by Bradley Parsons
Staff Writer
When the JEDC resumes business Aug. 1, its new focus on directing incentives to areas most in need will hold both good news and bad news for downtown.
The good news is downtown ranks as the City’s top priority on one list of areas to be considered for development incentives.
The bad news is that downtown earned that ranking by performing poorly on just about every measurement of economic activity.
Part of the Jacksonville Economic Development Commission’s mission in restructuring itself is to start spending more of the City’s incentive dollars in areas that need it the most. According to the JEDC’s research, that’s a description downtown definitely fills.
Downtown had the highest unemployment and crime rate and the lowest average income and real estate prices of seven geographical regions examined by the commission. The JEDC looked at five indicators of economic distress to determine the most needy areas. Downtown measured as the worst in each area.
Economic distress will be only one component the JEDC will consider when deciding if projects qualify for City assistance. When the commission resumes business Aug. 1, it will score projects according to their ability to meet specific needs identified by the mayor. However, the other criteria being discussed favor downtown as well.
For instance, downtown developers will have an easier time raising area wages. The average per capita income downtown is only $12,022, compared to $20,082 in the North region and $16,925 in the Northwest.
Downtown has other advantages on the scorecard as well. A draft version of the card would score projects based on their proximity to the area. Mayor John Peyton has made downtown development a priority and has directed the JEDC to help the area continue to develop.
Wendland said downtown projects would be evaluated based on how they affect the area’s population, whether they add retail, and how they will handle parking.
Projects will also be scored by their size and by their private capital backing.
The scorecards will only set a minimum threshold for incentives. A project that scores well won’t necessarily receive more City help. Jacksonville Regional Chamber of Commerce executive vice president Jerry Mallot, a consultant to the JEDC’s review, voiced the majority opinion when he said the scorecards shouldn’t be the last word when considering incentives.
“The scorecards should help you make a better decision, but it shouldn’t make the decision for you,” he told JEDC executive director Kirk Wendland and commissioner Brad Glass during Wednesday’s Business Advisory Committee meeting.
Wendland has said repeatedly that he doesn’t want the scorecards to become a substitute for the judgment of his staff and the JEDC commissioners.
But the scores will indicate a project’s desirability and viability, and the JEDC will consider the scorecards when putting together incentive packages.