Daily Record Financial News &
Thursday, November 19, 2015
Vol. 103, No. 004 • One Section
35¢ www.jaxdailyrecord.com
London firm plans office here
Expansion to Jacksonville tied to Jaguars game overseas By David Chapman Staff Writer London-based Resource Solutions said this morning it wants to open a global service center and create 75 jobs in Jacksonville. To expand to the city, the company is seeking $225,000 in taxpayer incentives. Resource Solutions’ roles include recruitment outsourcing and technology solutions. Services include discovery audits of a company’s recruitment practices,
direct recruitment and a webbased tech system called TalentSource. The announcement this morning called the expansion part of a “win” coming from the London trip associated with the annual Jacksonville Jaguars game abroad. Janine Chidlow, the company’s managing director of EMEA– Americas, said Jacksonville was short-listed before city officials visited. But, what most impressed her was the education level and
training provided locally, along with how business-friendly the city is. The 75 jobs created over three years would have an average wage of $49,340. Additional annual payroll to the area, excluding benefits, is expected to be $4.2 million. Resource Solutions is headquartered in the United Kingdom and has offices in India, South Africa, Singapore and New York’s Times Square. Overall, the company employs
more than 2,600 people and has more than $2.6 billion annually in profits. Its clients include Morgan Stanley, Visa, HSBC, JP Morgan, Samsung, Warner Brothers, Xerox and Honeywell. Resource Solutions is a subsidiary of Robert Walters, an international professional recruitment consultancy. The company is seeking a Qualified Targeted Industry grant of $225,000. The city would be responsible for $45,000 and the state would
cover the remaining $180,000. Audrey Moran, JAX Chamber chair-elect, said economic development trips like those to London are vital to get in front of business decision-makers, forge relationships and bring back jobs. Having a strong showing from the local contingent can move Jacksonville to the top of companies’ lists. dchapman@jaxdailyrecord.com @writerchapman (904) 356-2466
Deutsche Bank will expand to 2nd site
Photo by Wes Lester / City of Jacksonville
By Karen Brune Mathis Managing Editor
A solemn ceremony for heroes A sailor played the bugle during Wednesday’s 20th anniversary commemoration of the Jacksonville Veterans Memorial Wall. The wall lists more than 1,700 Jacksonville-area military service personnel from six service branches. Mayor Lenny Curry led the wreath-laying ceremony.
Changing what JEA pays city Group continues to work on new contribution formula By Max Marbut Staff Writer When City Council President Greg Anderson introduced legislation last month to calculate JEA’s annual contribution based on a set percentage of the utility’s average gross revenue, with a minimum contribution of $114 million, he described the plan as “a pretty simple way to look at it.” Based on a proposal presented Wednesday to the council’s Special Committee on the JEA interlocal agreement, it might not be that simple. The only common element between Anderson’s bill and the latest plan is the
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minimum annual contribution. The new proposal also addresses how much the city pays for electricity for public buildings, streetlights and traffic signals and it includes a one-time contribution from JEA to be matched by the city to expand sewer service. The contribution calculation would be based on millage rates charged on how many kilowatt hours of electricity (5.5 mills) and cubic feet of water (2.1 mills) are sold annually. Council Auditor Kirk Sherman said that would mean if the rates charged by the utility changed, it would have no effect on the contribution, since it would be based on production rather than revenue.
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Committee Chair Bill Gulliford pointed out that JEA has experienced a decline in sales during the past few years due to conservation efforts, but that doesn’t automatically mean revenue would decline. “A lot of businesses experience reductions in sales but improve their net revenue,” he said. While JEA’s consumption per customer may be decreasing, the utility’s customer base is growing, which could result in a net increase in revenue, said council Vice President Lori Boyer. Gulliford added that looking for ways to make more money while selling less of its products is the responsibility of JEA’s JEA
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Deutsche Bank revealed its long-awaited Jacksonville expansion plans today as it told employees it will lease the former PHH Mortgage building near its Meridian Business Park campus. The lease allows the global financial-services company plenty of expansion space as it builds its job base in Jacksonville while restructuring its worldwide operations. The decision to lease at 5201 Gate Parkway “definitely creates a more permanent commitment to the location in North Florida,” said Leslie Slover, regional head of Deutsche Bank in Jacksonville and in Cary, N.C. Deutsche Bank has grown to 1,700 employees in Jacksonville and recently won approval from City Council for incentives to create 350 more jobs. The lease elevates the physical profile of Deutsche Bank in Southside as it boosts its presence to 350,000 square feet, making it one of the largest office tenants in the city’s history. Deutsche Bank will Slover continue to lease the five-building, 200,000-square-foot Meridian Business Park at 5022 Gate Parkway. It has about 1,200 employees there and is at capacity. It will consolidate employees from additional leased space in Butler Plaza along Belfort Road to the PHH Mortgage building, as well as add new employees there as the company expands. The company will refer to the building as 5201. PHH Mortgage will move to Baymeadows early next year. Slover said the 5201 building probably can accommodate 1,200 employees and allows the company to grow into the space rather than seek temporary offices as it expands. That indicates the company has more plans for the city. “This gives us a glide path to grow strategically,” she said. Deutsche continued on Page A-4
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