Daily Record Financial News &
THURSDAY, NOVEMBER 3, 2016
Vol. 103, No. 254 • oNe SectioN
35¢ www.jaxdailyrecord.com
Aerospace HQ seeks incentives to move Grace Aerospace has satellite office here
Grace Aerospace in 2014 opened a satellite office at Cecil Commerce Center because of a demand by customers. Two years later, the New York-based company could end up moving its headquarters to Jacksonville. Legislation filed late Wednesday would provide a $332,500 incentives package to the company to move its manufacturing operations to Cecil Commerce and expand its local footprint. The company would create 25 new jobs at an average wage of $50,675 by Dec. 31, 2019, and invest at least $300,000 in capital improvements. Grace Aerospace leases 1,500 square feet at a city-owned building. The expansion and relocation will net another 10,146 square feet leased at a market rate of $6 per square foot at Cecil Commerce Center. The company manufactures wire harnesses and other electronic military aircraft equipment. It was founded to fill a market gap where original equipment manufacturers ceased support, according to its website. Grace Aerospace’s clients include Lockheed Martin, Northrop Grumman and BAE Systems. Initially, the satellite office was established to meet demand by clients to inspect work products before they were completed. A project summary indicates the relocation would allow Grace Aerospace to obtain more business in the growing Southeast aviation market. Of the $332,500 in incentives being offered, $25,000 would come from the city for its 20 percent match of a Qualified Target Industry grant for the higher-wage jobs being created. The state would pay the remaining $100,000 for that grant, $37,500 for a training grant and $200,000 for a veterans training grant. In all, the state would contribute $307,500. The legislation is being introduced to council Wednesday, a day later than usual because of elections. dchapman@jaxdailyrecord.com (904) 356-2466
Special to the Daily Record
By David Chapman Staff Writer
A new name for the Jacksonville Jumbo Shrimp brings a series of new uniforms, which were unveiled Wednesday.
Is new name quirky or fishy? Fans often have difficulty accepting changes
@NPR Jumbo Shrimp: An Oxymoron, And Now A Minor League Baseball Team
@DCSeminole RIP Jacksonville Suns, long live the Jacksonville Jumbo Shrimp
@JoshPTPL So our city’s baseball team changed their name from the Jacksonville Suns to the Jacksonville Jumbo Shrimp ... I think it’s time to move.
By Max Marbut Staff Writer It’s goodbye Suns and hello, Jumbo Shrimp. The new name and logo for Jacksonville’s Double-A Minor League Baseball affiliate of the Miami Marlins was unveiled Wednesday by team owner Ken Babby and other team officials. “It’s quirky and it’s fun,” said Babby. When the name became public late Tuesday, it created a storm on social media, with people at first thinking it was a joke, then realizing it was reality. Babby said he knows change can be difficult, particularly for sports fans who are entrenched in tradition. He went through a similar experience in Akron, Ohio, when he bought the Cleveland Indians’ Double-A affiliate, which was at the time called the Aeros. As in Jacksonville, Babby wanted a name that reflected the community and also brought some fun to the fan experience. SHRIMP
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@blythbrum In a city where the football team makes us miserable, I welcome this jumbo shrimp with open arms.
@E_Dilla Jacksonville Jumbo Shrimp take “batter up” to a new level @UncleChaps The Jacksonville Suns changing their name to the Jacksonville Jumbo Shrimp is the best thing that’s ever happened to baseball in Jax.
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Project Velo site prep moving full-speed ahead
Cecil Commerce Center master developer Hillwood Investment Properties is moving ahead with intense site planning as the city awaits a decision by Project Velo, which matches the description of a second Amazon.com fulfillment center. Dallas-based Hillwood filed a revised set of construction plans with the city last week and requested a modification from the St. Johns River Water Management District for a more than 1 million-square-foot distribution warehouse.
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The distribution center is designed on 86 acres at 13333 103rd St. in Hillwood’s AllianceFlorida at Cecil Commerce Center business park in West Jacksonville. Project Velo is a $115 million, 1,200-job product distribution center whose incentives were fasttracked through City Council for the Cecil Commerce Center site. With such a need for speed, Project Velo’s decision appears to be an any-day-now event. Hillwood’s planning actions indicate news is expected soon.
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October was one presumed benchmark. The city said in August that Hillwood was considering buying the 86-acre site for the warehouse “as early as mid-October.” November-December is another. In September, the city said Proj-
ect Velo was expected to make its decision “later this year.” Asked about the status of the land purchase from the city, Public Information Officer Tia Ford said Monday the Office of Economic Development was still waiting to hear from Project Velo “as to whether or not the Jacksonville site has been selected.” Hillwood Senior Vice President Dan Tatsch said Tuesday he had no comment about Project Velo. Hillwood’s filings last week show it is fine-tuning site plans for Project Velo, which has not
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been confirmed as Amazon.com but not denied, either. Hillwood resubmitted a 10-set review to the city for what is called the 86.05-acre Parcel C at Cecil Commerce Center, which the city said the developer would buy for $8,819 an acre. That totals more than $758,000. Those plans show the more than 1,016,000-square-foot building would comprise more than 976,000 square feet of warehouse space and about 40,000 square feet of office space. MATHIS CONTINUED ON PAGE A-2
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