FRIDAY May 21, 2021
DIA approves incentives for Union Terminal Warehouse
jaxdailyrecord.com • 35 cents
PAGE 3 Public legal notices begin on page 5
Daily Record JACKSONVILLE
CORPORATIONS
St. Johns approves incentives for PGA Tour
Daily Record JACKSONVILLE
Dun & Bradstreet plans to relocate HQ to Jacksonville
The agreement would repay $16.8 million in taxes over 25 years on the Ponte Vedra project.
Daily Record Daily Record JACKSONVILLE
BY KATIE GARWOOD STAFF WRITER
JACKSONVILLE
Photo by Katie Garwood
Dun & Bradstreet CEO Anthony Jabbour announces May 20 at a JAX Chamber news conference the company is moving its headquarters to Jacksonville. At right is Jacksonville Mayor Lenny Curry.
The company, run by Black Knight’s CEO, is seeking $25 million in state and city incentives. BY KATIE GARWOOD STAFF WRITER
Dun & Bradstreet announced plans May 20 to relocate its corporate headquarters to Jacksonville, a move that will bring 500 jobs to the city and a $75 million investment in the next five years. The company provides business data and analytics. Dun & Bradstreet was acquired in 2019 by an investor group
including Jacksonville-based Black Knight Inc., which remains a significant investor in the firm after its July 2020 initial public offering. It will move to Jacksonville in the fall and is considering an office location. It is headquartered in Short Hills, New Jersey. The average salary of the 500 new jobs will be about $77,000. SEE MOVE, PAGE 2
ABOUT DUN & BRADSTREET Headquarters: Short Hills, New Jersey Employees: 4,037 CEO: Anthony Jabbour Revenue: $1.74 billion Assets: $2.48 billion Stock: The company trades as DNB on the New York Stock Exchange. It closed May 19 at $21.65.
Fidelity ties: Fidelity National Financial Chairman Bill Foley also is chairman of Dun & Bradstreet and Black Knight. Jabbour also is CEO of Black Knight, which was spun off from Fidelity and is headquartered along with Fidelity in Jacksonville along Riverside Avenue.
The St. Johns Board of County Commissioners approved an economic development incentive agreement 4-1 on May 18 with the PGA Tour at an estimated value of $16,778,760. The agreement, previously code-named Project Breeze, would create a 150,000-squarefoot broadcast media building for the PGA Tour. The tour would relocate its PGA Tour Entertainment arm from its 32,329-square-foot building in World Golf Village to the new facility adjacent to the new PGA Tour Global Home along Palm Valley Road in Ponte Vedra. The tour could receive $16,778,760 in incentives, which includes 25 years of ad valorem taxes paid on capital improvements and 25 years of tangible business personal property taxes paid by the applicant. Commissioner Jeb Smith voted against the agreement, saying the 25-year term was too lengthy considering similar economic incentives are for four years. “A lot can happen in 25 years,” he said. Commissioner Paul Waldron proposed an amendment that would allow the tour and the commission to reevaluate the deal every five years of the 25-year contract. That was approved as part of the agreement. The PGA Tour said it expects to invest more than $100 million in the project, including land, construction and equipment costs. If the tour decides to move forward with the project, it estiSEE PGA TOUR, PAGE 3
Florida Coastal’s teach-out plan is rejected The American Bar Association notified Florida Coastal School of Law on May 18 that the school’s teach-out plan was rejected and must be resubmitted. The ABA directed the law school to submit the plan to facilitate the transfer of its students to other accredited law schools to finish their education after Florida Coastal’s application for reinstatement in the federal Title IV student loan program was denied in April. The ABA said the teach-out plan “did not include sufficient detail relating to the operation of a teach-out” in light of the denial of the school’s access to the federal student loan program. Florida Coastal is appealing the loan program denial.
VOLUME 108, NO. 132 • ONE SECTION