Cosentino, a Spanish manufacturer of natural stone and architectural surfaces, has purchased 570 acres from the City of Jacksonville for $20.4 million. As part of the agreement, Cosentino has committed to building a $270 million production facility on the site and creating 180 jobs.
The company has been producing stone products in Spain for many years and is now expanding its operations to Jacksonville. According to reports from The Jacksonville Business Journal, two years ago the City Council approved an economic development agreement that includes a rebate on property taxes for ten years (worth approximately $12 million) as well as debt spending totaling $5.5 million.
This incentive deal also includes funding for infrastructure improvements at the site such as a new road extension at Cecil Commerce Center ($3 million) and upgrades to sewer and water systems by JEA ($2.5million). The first phase of construction will consist of a 408,000-square-foot production facility with additional support areas spanning over 734,000 square feet.
