Two incentives deals that would create 50 jobs for one company, keep another in Jacksonville and spend $1 million in taxpayer funds will be up for a final vote next week.
The City Council Finance Committee unanimously approved both deals Tuesday, setting up the final action.
Airbase Services Inc., a subsidiary of Calif.-based Regent Aerospace Corp., would receive $500,000 in city and state funds to locate a manufacturing, servicing and repair facility at 1507 Industrial Blvd.
It would receive a Qualified Target Industry Tax Refund grant worth $425,000, with the city paying $85,000 and the state the remaining $340,000. The state also would provide $75,000 through a Quick Response Training grant.
The company would create 50 jobs and invest $1.5 million for renovations at the site. The jobs would pay an average wage of $41,375, plus benefits.
The other deal is for Ja-Ru Inc., a Jacksonville-based designer, manufacturer, importer and distributor of toys and hobby goods, to consolidate its operations and stay in Jacksonville at a 400,000-square-foot facility on the Southside. In December it bought 31.7 acres in Flagler Center for $3 million.
It would receive a $436,000 Recapture Enhanced Value grant, which is a refund on taxes and other investments the company will make. It is paid by the city.
In addition, it would receive $60,000 from the city’s Countywide Economic Development Fund to cover permitting fees.
The company would not create jobs, but instead invest $13 million in the area for a new building and improvements.
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