An unidentified financial technology company proposes to expand into Jacksonville and create 673 full-time jobs by year-end 2024 at an average wage of $97,000.
The company, code-named Project End Game, seeks $4.523 million in city and state grants.
The prospect is considering coming to the Jacksonville area and to partner with an existing company that has invested in its development.
It would start by leasing space at an existing Downtown location and is willing to consider moving its headquarters Downtown.
A city Office of Economic Development project summary says the company designs and manages software for financial institutions.
It projects a capital investment of $6.4 million, comprising real estate improvements, IT equipment, furniture and fixtures.
The Mayor’s Budget Review Committee is scheduled to review a request June 21 by the economic development office for approval to execute an economic development agreement with the company.
The request is for the introduction of a resolution to City Council to authorize the mayor to execute the agreement.
The company requests a Targeted Industry Grant from the city up to $1.831 million. That is based on $4,500 per job for 407 positions.
The grant would be payable in $1,125 per-job increments over four years after the average wage and job creation is verified by the city.
The city says its return on investment is 1.07.
The state proposes a CareerSource Florida Quick Response Grant up to $4,000 per job for 673 positions, which totals $2.692 million.
The total payroll would be $65.2 million.
The project summary says Project End Game has a few other cities under consideration and the incentives are a material factor in its decision to expand its existing operation in Jacksonville.