Committee forwards Paysafe and development incentives to council - Jacksonville Business Journal

London-based Paysafe announced at a press conference last week its decision to open its North American headquarters in the city. The company specializes in digital payment platforms. The firm handles about $120 billion of payments each year and operates in more than 40 currencies across a dozen offices worldwide. Its Jacksonville location has not been announced.

Economic Development Executive Director Kirk Wendland said the grants are tied down by performance measures. For instance, the city will verify the wages and job creation stated in the Employment Creation grant, which is $6,000 per job payable in 25% increments. The Headquarters Retention Grant is over a 10-year period, payable in annual $500,000 installments by meeting the city’s criteria.

“If you think over time, as they potentially look for new space, there’s going to be more capital,” Wendland said. “At this point in time, we couldn’t truly quantify that and plug it in.” The development is expected to have 202 units and 6,000 square feet of retail or restaurant space, including a parking garage and amenities. Corner Lot seeks a $5.5 million Recaptured Enhanced Value Grant, which

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Committee forwards Paysafe and development incentives to council - Jacksonville Business JournalCommittee forwards Paysafe and development incentives to council
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