News Summary
The Jacksonville City Council has approved an $800,000 incentive package for Project Pan, aimed at investing $28 million in a new meat processing plant. With 100 expected jobs, the project seeks to revitalize Northwest Jacksonville, built on the site of a former Tyson Foods plant. The Council’s 16-1 vote supports local employment and economic growth, with construction commencing by the end of the year.
Jacksonville, Florida – The Jacksonville City Council has approved an incentive package of up to $800,000 for Project Pan, an international meat processing company, as part of their plans to invest $28 million into a newly redeveloped meat processing plant. The Council voted 16-1 on August 26 in favor of Resolution 2025-0607, which outlines these proposed incentives aimed at establishing the facility in Northwest Jacksonville. Only Council member Rory Diamond opposed the resolution, while members Jimmy Peluso and Terrance Freeman were absent for the vote.
The incentive package includes a six-year, 50% Recapture Enhanced Value (REV) Grant. This grant is designed to refund ad valorem tax revenue derived from the new development, contingent upon the successful establishment of the facility. In exchange for this public funding, Project Pan is required to construct a 50,000-square-foot facility on the site of the former Tyson Foods plant at 5441 W. Fifth St.
According to projections, the new facility will create up to 100 jobs within the first three years of operation. Each of these jobs is expected to provide an annual salary of approximately $59,211, coupled with a benefits package that is worth an estimated $16,000 per employee. The REV grant, however, stipulates that it will be terminated if Project Pan fails to create at least 10 new jobs by 2029.
Construction for Project Pan’s facility is scheduled to begin by December 31, with an anticipated completion date in late 2027. The company is evaluating a site located in a designated Brownfield Redevelopment Area and a Level 1 Distressed Area in Northwest Jacksonville, further highlighting their commitment to redeveloping economically challenged parts of the city.
Background on Project Pan and Tyson Foods Closure
The facility chosen for redevelopment has a history as a vacant single-story precast concrete tilt-wall manufacturing plant, initially built in 1974 and renovated in 2013. Once operational, it is projected to produce 1 million pounds of finished product each week. Project Pan intends to import meat products from overseas and plans to significantly utilize local port access, which will be critical for their operations.
Currently, Jacksonville finds itself in competition with nearby Savannah, Georgia, for the establishment of the Project Pan plant, making the approval of the incentive package crucial to securing the project. The urgency of the development has been influenced by Tyson Foods’ announcement to shut down its Jacksonville facility as of January 8, 2024, a closure that will affect 219 jobs in the area. In light of this, the Colliers real estate company is in the process of listing the Tyson Tri-Temp Facility for sale, which remains currently under contract as advertised on LoopNet.com.
Economic Impact and Future Projections
Jacksonville’s approval of incentives for Project Pan marks a strategic move aimed at bolstering local employment and attentiveness to redeveloping distressed areas, thereby enhancing the city’s economic landscape. The combination of a substantial investment from an international corporation, employment opportunities for residents, and the potential for increased taxable revenue signals a progressive step toward strengthening the local economy.
This initiative demonstrates the revitalization efforts being fostered through public-private partnerships, ultimately aiming to improve the economic conditions for Jacksonville’s residents and help address local unemployment challenges. With the expected job creation and financial investments brought forth by Project Pan, the region may potentially experience a positive transformation in its economic development efforts.
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Additional Resources
- Jacksonville Daily Record: Jacksonville City Council Approves $800,000 in Incentives for Project Pan
- Jacksonville Daily Record: Meat Processing Company Seeks Incentives for $28 Million Packing Plant
- Jacksonville Daily Record: Official Jacksonville Competing with Savannah for Project Pan Meatpacking Facility
- SwineWeb: New Jacksonville Meat Plant Could Signal Boost for Regional Pork Processing
- Wikipedia: Jacksonville, Florida
- Google Search: Jacksonville Project Pan
Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
