A financial impact analysis of the $445 million Lot J development commissioned by the Jacksonville Jaguars shows additional retail space and assumes $402.2 million in tax revenue over 30 years.
WJCT News partner the Jacksonville Daily Record reports the Jaguars and the city released the analysis Oct. 22 after City Council Auditor Kim Taylor told the Finance Committee on Oct. 20 that the mayor’s office had not provided complete financial projections to her office.
The report is from Chicago-based C.H. Johnson Consulting Inc., contracted by the Jaguars’ development team.
Johnson Consulting calculates Lot J would support 1,070 full-time equivalent jobs when it is operating and create a $456.6 million economic impact over 30 years beginning in 2022.
Mayor Lenny Curry said in a news conference Oct. 22 that the city used the report to outline job creation totals and economic impact figures when the development deal was announced Oct. 5.
Curry said Oct. 5 that Lot J would produce $100 million in annual economic output and create 2,300 construction jobs and at least 1,000 permanent jobs.
Read the rest of this story at JaxDailyRecord.com.