Jacksonville approves $3.4 million in incentives for JinkoSolar factory

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It may not be as large of an factory as previously planned, but JinkoSolar’s plan to invest $50.5 million to make PV modules in Jacksonville, Florida have the green light from the city. According to the Jacksonville Daily Record, the Jacksonville City Council voted 19-0 to approve $3.4 million in incentives Tuesday night.

This includes a Recapture Enhanced Value (REV) grant for $3.2 million, as well as $200,000 in financial support under the Qualified Target Industry (QTI) Tax Refund Program. This QTI funding from Jacksonville will be matched with an additional $800,000 from the state of Florida.

JinkoSolar has been cagey about releasing information on the project, and so far has declined to state what the capacity of the module facility at 4660 New World Avenue will be. According to the resolution defining incentives, the factory will employ 200 workers at an average salary of $46,000 annually, to be hired no later than the end of 2019.

The original plans for the factory were much more ambitious. Under the code name “Project Volt” Jinko originally planned to invest $410 million in the factory, and hire 800 workers, but dramatically downsized this proposal some time over the last few months.