A wholesale distributor is seeking public incentives to expand in Jacksonville with a $90 million food distribution warehouse, according to newly released city documents.
The city Office of Economic Development is requesting approval for $2.2 million in incentives for the code-named Project Moana, which according to an OED staff summary plans a capital investment of $80 million in new construction and $10 million in equipment for the 275,000-square-foot expansion warehouse.
The request is scheduled before the Mayor’s Budget Review Committee on June 9. If approved, it will be introduced to the Jacksonville City Council.
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 city incentive would be provided as a 60%, 10-year Recapture Enhanced Value Grant. A REV grant is a refund on ad valorem tax revenue generated by a new development.
The summary and a legislative fact sheet attached to the incentive request says 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 make a decision on its location in the second quarter of 2025, which ends June 30, and have the facility up and running by late 2029.
OED estimates that the city will receive a return on investment of $4.50 for every $1 of incentives provided.