JACKSONVILLE, Fla. – A company operating under “Project Newark” is looking to expand its presence in Jacksonville.
The proposal from the Jacksonville Office of Economic Development said the potential project is expected to bring an investment of about $135 million and 200 new full-time jobs.
According to city documents, the Phoenix area could be the potential landing spot.
Documents say the manufacturer already has operations in the city and is looking to build additional facilities to support the making of “new smokeless nicotine and a smokeless caffeine pouch product.”
The project will go before the Finance Committee on Tuesday.
The city is looking to offer a Recapture Enhanced Value (REV) Grant as an incentive. The grant would be for 50 percent of the increase in real and personal property taxes generated at the project site. The incentive would last for five years and reach up to $3.5 million.
The plan lists the end of December 2027 as the deadline for construction to be completed and says a failure to create the required jobs would result in termination of the grant.
The Finance Committee will meet at 1 p.m. to discuss the proposal.
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