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Tuesday, January 9, 2018
Vol. 105, No. 037 • One Section
www.jaxdailyrecord.com
Project Volt likely JinkoSolar; firm could bring 1,000 jobs Deal could be the largest capital investment ever for Jacksonville, official says.
About JinkoSolar JinkoSolar Holding Co. Ltd. is the No. 1 manufacturer of solar modules in the world, according to industry website PVTech.org.
By David Cawton Staff Writer City leaders are calling a pending deal with the unidentified Project Volt the largest ever for Jacksonville. Kirk Wendland, executive director of the city’s Office of Economic Development, told the Mayor’s Budget Review Committee on Monday that landing the company and Wendland its proposed $410 million capital investment and 800 jobs has been “a very competitive process.” “From what we can tell, that would be the largest single project capital investment that we’ve ever been involved with,” said Wendland, who needed the committee’s approval before introducing the deal to City Council. Wendland also said Volt is having internal discussions about increasing the number of employees to 1,000 that it would hire for the two facilities it plans to build-out in North and West Jacksonville. He said the company has not committed to the increase, but would like authorization to do so as the legislation makes its way through council. Volt
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The company: JinkoSolar became a public company in 2010, trading on the NYSE as JKS. Share price: $24.13 Headquarters: Shanghai, China U.S. office: San Francisco CEO: Kangping Chen Revenue: $3.08 billion in 2016, up from $2.48 billion in 2015.
Special to the Daily Record
JinkoSolar could be seeking to manufacture solar panels in Jacksonville, hiring as many as 1,000 workers.
Following secret project’s clues to JinkoSolar
A secret project, especially one seeking $54 million in city and state tax incentives and potentially hiring 1,000 employees, raises the question: Who is it? Project Volt, which seeks $53.9
million in tax refunds, credits and forgiveness and in training grants from the city and state, wasn’t identified in city legislation filed Thursday for introduction Tuesday to City Council. The Mayor’s Budget Review Committee authorized the city’s portion of the incentives Monday. Those add up to $24.6 million in tax incentives and property tax rebates. Kirk Wendland, executive
director of the mayor’s Office of Economic Development, said Volt has the potential to increase its job goal to 1,000, which would raise the city’s incentives. The committee approved that. The project summary said Volt makes solar panels and modules and wants to hire 800 people in Jacksonville to make and assemble the products, as well as set up Mathis
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Customers: Utility, commercial and residential customers in Europe, South Africa, Asia, North and South America and the Middle East. Employees: More than 15,000 Production facilities: 8 Subsidiaries: 16 Sales offices: 24 in 23 countries.
Inside Threat of tariffs could be driving company to open facility in Jacksonville. Page 2.
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Dewberry Capital confirms Roosevelt Square renovations Atlanta developer completed two phases of redevelopment; third pending. By Karen Brune Mathis Editor A representative of Dewberry Capital Corp. said Monday that Roosevelt Square will undergo a third phase of redevelopment
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under its ownership. The representative, who asked not to be identified because plans were not completed, called it “a total renovation” of the shopping center east of Roosevelt Boulevard and south of San Juan Avenue. “Every part of the shopping center will be touched,” the representative said, adding that plans would be released when ready. Atlanta-based Dewberry Capital, through Roosevelt Square LLLP, applied to the city Thurs-
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day to demolish the closed Belk department store at a cost of $250,000 and a former pharmacy at a cost of $50,000. In 1997, Dewberry Capital bought the former Roosevelt Mall, an enclosed center built in 1961, and completed two redevelopment phases in 1999 and 2003. It transformed the center into an open-air shopping plaza. The third phase was signaled by permitting, tentative plans and a
$68.5 million mortgage issued in May by Protective Life Insurance Co. to Roosevelt Square LLLP. The loan matures in five years. The agreement, signed and recorded in May, shows that Dewberry Capital intends to retain existing anchors Stein Mart and Publix and sign new tenant PetSmart. Mark Dowst & Associates Inc. is the agent. Dewberry President John Dewberry signed permitting documents as the owner.
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Roosevelt Square operates on 29 acres. Stein Mart confirmed last year that it renewed its lease in a 46,000-square-foot space and plans to renovate it. It said it will be flanked by Ulta Beauty and a pet supplies retailer, likely PetSmart, both new to the center. kmathis@jaxdailyrecord.com @MathisKb (904) 356-2466
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