The Mayor’s Budget Review Committee voted Monday to forward legislation to City Council for up to $131,000 in city financial incentives for a software company with plans to bring 107 employees to work in downtown Jacksonville.
The economic development package also would have up to $428,000 in state incentives for the company, according to our Florida Times-Union news partner.
The proposed development deal is code-named Project Wolfe because state law allows a company to invoke confidentiality while it is seeking incentives.
“They came to us a couple of months ago,” Kirk Wendland, executive director of the city’s Office of Economic Development, told the mayor’s budget committee. “They were looking at multiple locations. We encouraged them to look at downtown, which they have.”
The software company’s expansion into downtown would not be as large at VyStar Credit Union’s announcement last week that it will relocate its headquarters to downtown with 600 to 700 employees working in the building known now as SunTrust Tower.
Still, the decision to move downtown would be a boost for occupancy rates on the Northbank side of downtown.
The company would lease office space in the vicinity of the city-owned Yates Building’s parking garage. The exact location of the building remains confidential.
A longer version of this story that includes a breakdown of the incentives is on jacksonville.com.
