AMENDMENT

Finance Committee · 2026-05-05 · agenda_item

The City of Jacksonville Finance Committee is reviewing an Economic Development Agreement with The Winn-Dixie Company, Inc. This agreement proposes the expansion of Winn-Dixie's existing headquarters and the renovation and maintenance of thirteen existing full-service grocery stores. The project involves an estimated private capital investment of $65,000,000 for tangible personal property and leasehold improvements, with improvements to be completed by December 31, 2031. Winn-Dixie is required to create a minimum of 200 new jobs and retain 500 existing jobs, all at an average salary of $100,000. The city is considering authorizing a Headquarters Retention Grant of up to $6,500,000 and a 20-year REV Grant of up to $5,500,000. This item is currently under review by the Finance Committee. The project scope includes significant renovation and improvement work on existing stores and headquarters facilities. This could involve site preparation, interior build-outs, mechanical, electrical, and plumbing upgrades, as well as finishing trades. Local contractors, suppliers, and service providers in construction, building materials, and related fields may find opportunities. Engaging early, before final bids and permits are issued, could provide a competitive advantage.

grocery store locations

13

job creation year 1

15

job creation year 4

40

job creation year 5

45

private capital investment

65,000,000 $

completion deadline

12/31/31

new jobs required

200

average salary

100,000 $

existing jobs to retain

500

Headquarters Retention Grant maximum

6,500,000 $

Headquarters Retention Grant annual disbursement

1,300,000 $

Headquarters Retention Grant disbursement period

five year

Headquarters Retention Grant repayment if 100 new jobs not met

50 %

Headquarters Retention Grant repayment if headquarters not maintained

entire

Headquarters Retention Grant headquarters retention deadline

12/31/38

REV Grant term

20 year

REV Grant maximum

5,500,000 $

REV Grant start date

May 2028

REV Grant reduction if capital investment not met

65,000,000 $

REV Grant capital investment deadline

12/31/31

REV Grant termination if minimum capital investment not met

25,000,000 $

REV Grant minimum capital investment percentage

39 %

REV Grant termination if 150 new jobs not met

150

existing grocery stores

13

replacement store timeframe

18 month

Return on Investment

1.07

Return on Investment period

20 year