An international meat processing company is seeking city incentives to build a plant in Northwest Jacksonville.
The code-named Project Pan plans to invest $28 million to establish a meat processing facility in a vacant refrigerated warehouse block building, the Office of Economic Development stated in a memo on the proposed incentive.
The OED is seeking approval to submit legislation to the Jacksonville City Council for a six-year, 50% Recapture Enhanced Value Grant of up to $800,000 for the new facility.
A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement.
In a project summary, OED says Project Pan plans to create 100 jobs in Jacksonville at an average wage of $59,211, plus a benefits package of $16,000 per employee.
The warehouse would provide 50,000 square feet of production space and the company plans to operate four meatpacking production lines, processing over 1 million pounds per week of finished products.
Work to prepare the warehouse for the facility would begin in December 2025.
Among its reasons for supporting the incentive, the OED cited the warehouse’s location in a Brownfield Redevelopment Area and in a Level I Economically Distressed Area.
The website for the city’s Brownfields Program describes those areas as having “the presence or potential presence of a hazardous substance, pollutant, or contaminant.”
“Cleaning up and reinvesting in brownfields properties protects the environment, reduces blight, and takes development pressures off greenspaces and working lands,” the site says.
OED staff calculate a return on investment of $3.50 for every $1 of incentives.
Economic development agreements often use code names, which are allowed by state law.
The Mayor’s Budget Review Committee is scheduled to consider the OED’s request at its July 21 meeting.