Jacksonville Welcomes Eckart Supply with Incentives for Expansion
The city of Jacksonville is set to play host to Eckart Supply, an Indiana-based wholesale distributor, following a recent decision by the Mayor’s Budget Review Committee. On November 25, the committee approved a request to offer Eckart Supply a total of $67,500 in public incentives to help the company expand its operations into Northeast Florida.
Company Overview
Eckart LLC, headquartered in Corydon, Indiana, is recognized as a full-service distributor of electrical, lighting, plumbing, HVAC, and data communication products. Currently, the company employs approximately 385 people. The planned expansion aims to solidify Eckart’s presence in the Southeastern market.
Investment Plans
According to Ed Randolph, the CEO of the city’s Office of Economic Development, Eckart Supply intends to invest $1 million to establish what he termed a “Southeast beachhead” in Jacksonville. The company plans to develop a 150,000-square-foot facility located at 5400 W. 12th St. The building is expected to undergo significant renovations, with plans spanning over the next two years.
Job Creation
In connection with this expansion, Randolph noted that Eckart Supply has committed to creating at least 45 full-time jobs with an average annual salary of $79,960. This job creation is a critical component of the city’s strategy to attract and retain businesses that contribute positively to the local economy.
Incentives Breakdown
The city’s proposed incentives will come in the form of a Local Targeted Industry Employment Grant. For each newly created job, Eckart Supply will receive $1,500, distributed in 25% increments over a four-year period. This financial assistance is designed to offset some of the startup costs associated with the new facility and hiring process.
Competitive Landscape
During discussions, it was revealed that Eckart Supply had considered at least two other locations before deciding on Jacksonville. The city’s proactive approach and attractive economic incentives were significant factors in their decision-making process.
Legislative Approval
With the review committee’s approval of the incentives, the next step involves formalizing the proposal. The details will be drafted into legislation and presented to the Jacksonville City Council for further consideration. If approved, this will mark a significant step in enhancing Jacksonville’s reputation as a destination for business expansion.
Conclusion
This initiative not only reinforces Jacksonville’s commitment to fostering an environment conducive to business growth but also promises to generate employment opportunities and strengthen the local economy. As Eckart Supply takes these steps to establish its Southeast operations, the anticipation in the community will likely grow as stakeholders look forward to the benefits this expansion will bring.
