AMENDMENT

Finance Committee · 2026-04-21 · agenda_item

The City of Jacksonville Finance Committee is reviewing an Economic Development Agreement amendment for Johnson & Johnson Vision Care, Inc. This agreement supports the expansion of their contact lens manufacturing facility, known as the Centurion Project, and the construction of a new packaging and logistics facility, the Pecan Park Project. The total estimated private capital investment for both projects is $550,000,000, with improvements expected to be completed by December 31, 2028. This plan involves significant construction, including site preparation, building of new facilities, and installation of manufacturing and logistics equipment. The project is currently under review, offering an early opportunity for local contractors, suppliers, and service providers. Work could include site clearing, grading, utility installation, building construction, and final landscaping. Businesses specializing in general contracting, site preparation, concrete, electrical, HVAC, plumbing, and building material supply may find opportunities as plans develop. Engaging early before final bids and permits are issued could provide a competitive advantage.

total private capital investment

550,000,000 $

completion deadline

12/31/28

minimum new jobs

10

average salary

105,000 $

REV Grant duration

6 year

Centurion Project REV Grant percentage

40 %

Centurion Project REV Grant maximum

10,500,000 $

REV Grant duration

5 year

Pecan Park Project REV Grant percentage

60 %

Pecan Park Project REV Grant maximum

1,500,000 $

Centurion Project minimum capital investment for reduction

265,000,000 $

Centurion Project minimum capital investment for termination

170,000,000 $

Pecan Park Project minimum capital investment for reduction

35,000,000 $

Pecan Park Project minimum capital investment for termination

30,000,000 $

minimum jobs for grant reduction

10

average salary for grant reduction

105,000 $

minimum jobs to maintain

1,964

Return on Investment (ROI)

4.86

ROI period

10 year