Daily Record Financial News &
Tuesday, March 13, 2018
Vol. 105, No. 082 • One Section
35¢ www.jaxdailyrecord.com
Project Volt confirmed by city as JinkoSolar
True Food Kitchen working on St. Johns Town Center site
China-based company seeking city incentives, plans to invest $50.5M, create 200 jobs. By David Cawton Staff Writer The city of Jacksonville has confirmed that Project Volt is JinkoSolar (U.S) Inc. Office of Economic Development Executive Director Kirk Wendland said Monday that Volt was the codename used to shield the company’s identity while the city negotiated an economic development deal that included at least $54 million in state and local financial incentives, grants and tax breaks. On March 8, the city said it would termi- Wendland nate the Volt agreement approved by City Council in January and introduce legislation for an economic deal with JinkoSolar (U.S.) Inc. “The reason we wanted to terminate Project Volt is because it is JinkoSolar,” Wendland said. The Volt economic development agreement and summaries described, but didn’t name, JinkoSolar. JinkoSolar (U.S.) is the United States subsidiary of Shanghaibased JinkoSolar Holding Co. Ltd., a global manufacturer of solar panels and modules. Council approved the Volt agreement Jan. 23. It included nearly $25 million in city-backed incentives in exchange for 800 jobs and the creation of two facilities in North and West Jacksonville to establish a North American headquarters, manufacturing
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The True Food Kitchen in San Diego, California. The restaurant opened in November. The chain plans to open its third Florida restaurant at St. Johns Town Center. It also has restaurants in Naples and Boca Raton.
Healthy-living concept moving into the former Mitchell’s Fish Market location, building permit application shows. Phoenix-based True Food Kitchen might bring its healthyliving restaurant concept to the former Mitchell’s Fish Market in St. Johns Town Center, according to a building permit application. True Food Kitchen, with 26 locations in 12 states, calls itself “a health-driven, seasonal res-
taurant” with a bar and an open kitchen. True Food Kitchen Marketing Director Shannon Keller said the company is working with landlord Simon Property Group on a site at St. Johns Town Center. “However, the lease has not been signed so we have not issued any formal announcement at this time,” she said. A spokesman for landlord Simon Property Group said it had nothing to say because its policy is to not comment until it has a fully executed lease. The city is reviewing plans to demolish interior and some exterior space at the 11-year-old 5205 Big Island Drive restaurant to prepare for True Food Kitchen. Mathis
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True Food Kitchen has 26 restaurants in 12 states. The restaurant was developed with alternative medicine celebrity doctor Andrew Weil.
JinkoSolar
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Jacksonville unemployment rate ticks up after holidays Led by construction, job growth in region remains strong. By Mark Basch Contributing Writer Jacksonville’s unemployment rate rose in January, a normal seasonal trend as some businesses cut back staff after bulking up for
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the holiday season. However, year-over-year job growth in the Jacksonville metropolitan area (Duval, Baker, Clay, Nassau and St. Johns counties) remained strong. The unemployment rate in the Jacksonville area rose from 3.4 percent in December to 3.9 percent in January, the Florida Department of Economic Opportunity reported Monday. But the jobless rate was down from 4.7
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percent in January 2017. The state agency does not adjust local area data for seasonal factors. Florida’s statewide unadjusted unemployment rate also rose in January, but after seasonal adjustment, it was unchanged at 3.9 percent, the agency said. Jacksonville nonfarm businesses increased jobs by 19,700 from January 2017 through January 2018, a 2.9 percent growth rate.
That’s well above Florida’s statewide growth rate of 1.8 percent. Construction jobs led the way in the Jacksonville area with a 7.1 percent growth rate in the 12-month period. Duval County’s unemployment rate rose from 3.5 percent in December to 4 percent in January, without seasonal adjustment. St. Johns County’s jobless rate rose from 2.8 percent to 3.3 percent, but that was still the lowest
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rate of any county in the state. The Department of Economic Opportunity’s January report was later than the usual monthly report because of its annual benchmarking process, where it revises past labor market data. The agency gets back on schedule this month and will release its report on the February labor market next week. mbasch@jacksonville.com
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