Two companies, one with local ties and another new to the market, are seeking incentives deals that combined will retain 78 jobs and create 50 more for almost $1 million in taxpayer-funded incentives, according to legislation filed Wednesday.
Ja-Ru Inc., a Jacksonville-based designer, manufacturer, importer and distributor of toys and hobby goods, is seeking $496,000 in city incentives to consolidate its warehouse, distribution and corporate headquarters within a 400,000-square-foot Flagler Center facility on the Southside.
The company currently owns warehouses of 147,000 square feet and 50,000 square feet along Philips Highway and Powers Avenue, and leases an additional facility along Haines Street.
Last December, Ja-Ru bought 31.7 acres in Flagler Center for $3 million.
Dubbed "Project Nickel," the deal features a $436,000 Recapture Enhanced Value grant — a refund on taxes, properties and investments the company will made. It will be paid over a 10-year period.
It also would receive $60,000 from the city's Countywide Economic Development Fund that would cover permitting fees to construct the building.
In return, the company proposes $13 million in private capital investment — $12 million for the building and the $1 million for machinery, equipment, furniture and fixtures.
It also would retain 78 jobs that have an annual average salary of $65,000, plus benefits.
According to the project summary, the Georgia Port Authority economic development team has been "very aggressive" in offering Ja-Ru a "significant" incentive package to consolidate and relocate to Savannah, Ga.
As for the new company, Airbase Services Inc. is seeking $500,000 in city and state funds to locate a manufacturing,
servicing and repair facility in Jacksonville. The company serves airline and aviation customers for the manufacture or remanufacturing of interior components of commercial aircraft. It is a subsidiary of California-based Regent Aerospace Corp.
Called "Project Aero," the deal would create 50 new jobs with an average wage of $41,375, plus benefits.
It is seeking a Qualified Target Industry Tax Refund of $425,000, of which the city would pay $85,000, or 20 percent. The state would pay the remaining $425,000, or 80 percent.
It also would receive a Quick Response Training grant, used for customized training, of $75,000 from the state.
As reported, Jax Industrial Developments LLC, headed by Regent Aerospace President Reza Soltanianzadeh, paid $1.27 million in early September for an aged, vacant property at 1507 Industrial Blvd. in Northwest Jacksonville. A mortgage was provided by Regent Aerospace for the property, which is listed on the deal documents as the site of the proposed project.
The company would make a capital investment of $1.5 million, which would cover renovations and fixtures, according to the documents.
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