Advent Software, a company that develops software for financial services company, is seeking up to $1.3 million in taxpayer funds to expand its Jacksonville office and create 123 jobs.
The company is based in San Francisco and has an office in 14 cities, including its subsidiary, Black Diamond Reporting, locally at 10151 Deerwood Park Blvd.
That 30,000-square-foot office currently employs 122 people and houses the company's regional headquarters and computer systems design and related services operations. It is evaluating expanding software development operations and proposes to spend $750,000 renovating 12,000 square feet of additional office space.
As part, it would hire 123 additional full-time jobs with an average wage and benefits of $80,400.
According to documents related to the deal, the incentives the company is asking for comprises:
• A Qualified Target Industry Tax Refund grant worth $738,000, with the state paying $590,400 and the city the remaining $147,600.
• $123,000 from the city's Countywide Economic Development Fund.
• $90,442 from the governor's Quick Action Closing Fund, tied to job creation and paid by the state, according to the project summary.
• Up to $374,000 in Quick Response Training funds that is paid by the state, according to the development agreement.
In total, the city is responsible for $270,600.
The incentives are a "material factor" in the company's decision to expand in Jacksonville, according to the project summary.
The document also says several cities, primarily Charlotte, N.C., are under consideration. Should the company select another city, "employment in the Jacksonville office may be affected."
"The company believes that the other location they are considering has a deeper pool of IT talent and are a more active downtown environment than Jacksonville, which would help them attract and retain more qualified employees in the coming years," the project summary states.
Legislation was filed this morning for the incentives, with the request that it is introduced Tuesday to the full City Council and could be voted on by Dec. 10, the final meeting of the year.
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