An international wholesale distributor will receive publicly funded incentives to expand into Jacksonville with a $90 million food distribution warehouse.
On July 22, the Jacksonville City Council voted 17-0 to grant final approval for $2.5 million in incentives for the distributor, code-named Project Moana in city documents.
The city Office of Economic Development requested the incentive through Resolution 2025-0481, which provides the funding through a 60%, five-year Recapture Enhanced Value grant.
A REV grant is a refund on ad valorem tax revenue generated by a new development or property enhancement. It can apply to property and tangible personal property.
Council Vice President Nick Howland said he was pleased that the incentive was in the form of a REV grant as opposed to other forms of public financial assistance, such as completion grants, that are paid for from the city general fund. That fund supports a broad range of city services, such as public safety, public works and parks maintenance and management.
“That’s the property way to incentivize business to move or expand in Jacksonville,” Howland said of REV grant funding.
According to an OED staff summary, Project Moana plans a capital investment of $80 million in new construction and $10 million in equipment for the 275,000-square-foot expansion warehouse.
In the summary, Project Moana is described as a “well-known international wholesale distributor” that employs 10,000 people worldwide, including 200 in Florida.
It plans to add 100 employees to its workforce in Jacksonville with an average annual compensation of $52,000, plus an average of $13,700 in annual benefits.
The summary and a legislative fact sheet attached to the resolution say multiple locations and competitive incentive packages have been offered to the company, both in Florida and beyond, and that the incentives are a “material metric” in the decision over where to build the facility.
The documents indicate that the Jacksonville site will use JaxPort and will require sewer upgrades, including a new lift station, and roadwork to facilitate ingress and egress. The estimated costs of those improvements are not listed.
The company plans to have the facility up and running by late 2029, the OED staff summary says.
OED estimates that the city will receive a return on investment of $4.50 for every $1 of incentives provided.