City considering incentives to keep Aetna Downtown

[thelakelander]

By David Chapman, Staff Writer

Aetna has its name on a Southbank building. The health-care institution has more than 900 employees there, too.
However, the business wants assistance to stay — and possibly grow — in the building where it's been since 1999, according to a report filed with the city.

The city and JAXUSA Partnership are working with the landlord, GV-IP Jacksonville, and the company to ensure Aetna remains Downtown.

The company has requested $45 per square foot for 160,000 square feet of office space to help pay for improvements. The landlord is offering $30 per square foot and asking the Downtown Investment Authority and city to make up the difference.

That amounts to $1.5 million that could be funded through a Recaptured Enhanced Value grant over 12 years, according to the report. Those grants are paid after expansions and provide tax breaks for property improvements.

As part of any incentive deal, the report said the company could add 150-300 new jobs.

Full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=546733