An undisclosed company called Project Bobcat is seeking up to $1.5 million in a city property tax rebate for construction of a $60 million cold-storage facility in Northwest Jacksonville that would create 109 jobs.
A city summary of the code-named project describes Bobcat as a minority-owned company that wants to expand its distribution support operations to accommodate continued growth throughout Florida and the Southeastern U.S.
The company does not have a presence in the Jacksonville area.
Bobcat is considering expansion options in Florida and Georgia, the summary said.
It plans to build and open a 120,000-square-foot cold and dry foods storage facility on about 40 acres by Dec. 31, 2025.
The jobs would be created no later than Dec. 31, 2027, and the annual payroll is expected to be more than $5.5 million, exclusive of benefits. That works out to an average of about $50,500 per jobs.
The summary says that the incentives would be a factor in the company’s decision.
The city proposes to provide a Recapture Enhanced Value Grant based on 50% of the increase in real and personal property taxes generated at the project site over 5 years, for a projected $1.5 million, the summary says.
A city summary says the project’s return on investment would be $4.45 for every $1 invested.
The Office of Economic Development is scheduled to ask the Mayor’s Budget Review Committee on Feb. 12 for approval to introduce legislation to City Council to approve an economic development agreement with Bobcat.
The committee is scheduled to meet at 2 p.m. Feb. 12 in the fourth-floor Mayor’s Conference Room at City Hall.