The City announced plans Wednesday for Bank of America, Energy Intelligence Worldwide Corp. and Total Quality Logistics to expand in Jacksonville, requesting City and state incentives totaling at least $1.58 million.
Combined, the companies expect to create 320 jobs with an average annual salary of about $50,000 and to make a $14 million capital investment in Jacksonville.
• Bank of America is planning to expand its two Southside Jacksonville campuses to accommodate multiple Bank of America and Merrill Lynch lines of business, including global technology and operations, consumer banking, home loans, legacy asset servicing and Merrill Edge.
The expansion would result in a capital investment of about $13 million and about 200 full-time jobs, with an average wage of more than $50,000, by December 2015.
The City said Bank of America will apply for funding from the Qualified Target Industry Tax Refund, Quick Response Training and Recaptured Enhanced Value programs. It said it also wants to use the governor's Quick Action Closing Fund.
The $50,694 wage is equal to 125 percent of the state average and allows the company to qualify for a QTI award of $3,000 per job, up to a maximum of $600,000. The City portion of the QTI is 20 percent, not to exceed $120,000.
The proposed REV grant would be paid annually and would be equal to 50 percent of the incremental increase in municipal and county ad valorem taxes paid on real property improvements at the site for a period of six years. The grant will have a cap of $438,422.
Bank of America proposes to invest at least $13 million in property improvements through 2015 to accommodate the job growth.
The City project summary shows Bank of America requests $1.04 million, not including the closing fund or quick response training grant, which are state programs.
• Total Quality Logistics, a freight brokerage company, is planning to open a new office in Jacksonville at a location to be determined. The City's project summary calls it "Project Cincy."
The company proposes to create 75 jobs with an average wage of $48,700 and make a private capital investment of up to $380,000.
That investment is planned to include office improvements of $175,000 and purchases of furniture, fixtures and IT equipment valued at $205,000.
Total Quality Logistics anticipates leasing about 5,000 square feet and to expand up to 12,000 square feet as needed.
Headquartered in Cincinnati with 17 satellite locations across the country, Total Quality Logistics arranges transportation of consumer and industrial goods across North America.
The company reported more than $1.3 billion in sales in 2012 and employs more than 2,000 people nationwide.
"Jacksonville gives us access to outstanding professional talent. Finding the right talent is key to our ability to grow market share within the third-party logistics industry," said Kerry Byrne, executive vice president.
Total Quality Logistics requests a total of $225,000 with $45,000 from the City and $180,000 from the state.
The company's QTI proposal requests $225,000 over six years, or $3,000 per job. The City's 20 percent would be $45,000 and the state would pay $180,000
The City said Total Quality Logistics also considered Nashville, Tenn., Pittsburgh and Houston for the new office.
• Energy Intelligence Worldwide Corp. is headquartered in Jacksonville and the City said it provides energy management solutions that lower resource consumption and reduce energy expenses. The City's project summary calls it "Project Monitor."
The summary says the company is interested in locating its corporate headquarters and energy monitor center at 100 N. Laura St. in Downtown Jacksonville. It would lease up to 5,000 square feet with the ability to expand as needed.
The company's annual report filed April 27 with the Florida Department of State Division of Corporations already shows the company's principal address as 100 N. Laura St. and its mailing address as a condo unit on the Southbank. Corporate records show the company was incorporated in 2011.
The project summary states that: "Financial incentives are a material factor in determining the final location for the proposed EIWC corporate headquarters and monitoring center."
Aleizha Batson, Mayor Alvin Brown's deputy director of communications, said in an email Wednesday evening that her office checked with Energy Intelligence Worldwide about the address at 100 N. Laura St., which is The Jacksonville Bank Building.
"They do not physically have an office there. They are working with the building owner to install their system for beta testing and their plan is to locate their corporate headquarters in the building after the incentive is approved and they begin hiring employees. Pursuant to the application this may not take place until 2014," she said.
The City said in the project summary said the deal could create 45 full-time jobs, with an average wage of about $65,000, by Dec. 31, 2016, and would result in a capital investment of up to $674,000 over the next five years to renovate and equip the office site.
The draft economic development agreement says the proposed project "is expected to represent an estimated total capital investment of $1,600,000 by the company."
Energy Intelligence is seeking a QTI tax refund of $315,000, or $7,000 per job, with a local match up to $63,000 and a state contribution up to $252,000.
The City said Energy Intelligence considered Atlanta, Washington, D.C., and Savannah, Ga., for the headquarters.
The types of jobs to be created include administrative personnel, energy management engineers, IT support, mechanical and electrical engineers and sales professionals.
"We chose Jacksonville over other cities because of its advancing international business climate, strategic location and quality of life," said Herrald Jonkers, Energy Intelligence's president and CEO.
"These projects demonstrate the tremendous confidence business leaders have in our region," said JAX Chamber Interim President and CEO and JAXUSA Partnership President Jerry Mallot.
"It is important that we continue to work with the private sector to facilitate the creation of employment opportunities for our citizens that enhance our standard of living," Brown said.
The City Office of Economic Development is responsible for administering and monitoring the agreement. The proposals are subject to City Council review and approval.