Daily Record Financial News &
Thursday, April 14, 2016
Vol. 103, No. 109 • One Section
35¢ www.jaxdailyrecord.com
Project Rex to plant big footprint
More details are emerging about the confidential North Jacksonville project widely believed to be an Amazon.com fulfillment center, including that the Jacksonville development needs about 2,800 employee parking spaces. That number likely is built to accommodate a large seasonal workforce to handle holiday deliveries. The center’s employment base is expected to reach at least 1,500 by year-end 2019, according to City Council legislation. Plans filed with the city show the project is designed as 855,000
square feet on 180 acres at Duval and Pecan Park roads. That size is the footprint of the building and doesn’t show if there is mezzanine or other space that could increase the size to 1 million square feet, the typical space associated with an Amazon.com center. Applications filed with the city also show Atlanta-based Seefried Industrial Properties Inc. is the developer. Tetra Tech Inc. in Jacksonville is the agent’s engineer. Tetra Tech Senior Project Manager Gregory Kern said Tuesday he was under a confidentiality agreement and could not com-
ment about the project, but called it “a huge win for the community of Jacksonville and for the region.” Seefried Industrial Properties has developed two Amazon.com centers that each total 1 million square feet in size. Seefried Chief Development Officer Jim Condon said by email Wednesday evening he could not
comment “if we are or are not involved in the referenced project.” A preliminary site plan details the site as being west of the Pecan Park and Duval roads intersection, north of Interstate 295. That location was part of the legislation filed Tuesday with City Council in which the project seeks $18.4 million in city and state incentives for an e-commerce fulfillment center that would create 1,500 jobs by yearend 2019. A parking summary filed with the city shows parking for 2,814 employees and 342 trailer spac-
es, 10 tractor spaces and 80 bay spaces. Called “Project Duval” in the filing, the applications clearly match those of the “Project Rex” in the city legislation. Broward Signature LLP owns a 148-acre site shown on a preliminary site plan for Project Duval that comprises the bulk of the project. The legislation is on the city’s fast track, which means it is slated for a final council vote April 26 for the city’s $13.4 million share of incentives. The state is asked for $4.95 million. Mathis continued on Page A-4
Crenshaw retirement comes as a surprise
Rashean Mathis: ‘It’s great to be back home’
By David Chapman Staff Writer
Photos by Fran Ruchalski
For one more day, Rashean Mathis, above, was a Jacksonville Jaguar. The former cornerback who played 10 seasons with the team signed a one-day contract, then retired Wednesday from the NFL as a Jaguar. He holds several team records, including career interceptions, with 30. Mathis played his final three seasons in Detroit. Mathis was joined at the ceremony by his wife, Ebony, and their sons, R.J. Jr., 3, and Elijah, 8 months. At left, R.J. tries to figure out how to work the microphone. At right, he proudly listens as his father gives his retirement speech.
Future impact of coal for CSX ‘uncertain’ By Mark Basch Contributing Writer For a long time, coal was king at CSX Corp., with coal shipments accounting for more than 30 percent of revenue for the Jacksonville-based railroad company. However, after another sharp drop in coal shipments in the first quarter, CSX Chairman and CEO Michael Ward said those days are over. “Coal is going to be a piece of our business. It’s uncertain how big it will be,” Ward said in an interview Wednesday
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after CSX reported a drop in first-quarter earnings, due in large part to the drop in coal. CSX reported earnings of 37 cents a share in the quarter, 8 cents lower than the 2015 first quarter, with revenue falling 14 percent to $2.62 billion. Revenue from coal shipments dropped 37 percent to $399 million and coal accounted for only 15 percent of total revenue in the quarter. Despite the lower results, Ward was happy with the company’s performance. “We did a good job on the things we
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control,” he said. CSX is looking to make up for the decline in coal by increasing business in other segments, including its intermodal business, which increased volume by 4 percent in the first quarter. Ward said the overall decline in revenue included a drop in fuel surcharges that are passed on to its customers. Revenue comparisons to last year were also impacted by payments received in 2015 from customers who did not meet minimum volume commitments. CSX
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Congressman Mario Diaz-Balart was shocked reading the text message from Ander Crenshaw, his mentor and Florida colleague, a couple of days ago. U.S. Sen. John Boozman said he was sad when he received the call from his Northeast Florida friend of almost 15 years. Crenshaw, the eight-term congressman representing much of Northeast Florida, told them he had decided to retire. He wouldn’t seek re-election this fall, he publicly announced Wednesday. “It’s just time,” Crenshaw said in an interview. Colleagues he’s come to know so well over the years said his departure will be felt. “This is such a huge loss for our country,” said Diaz-Balart, still sounding shocked Wednesday evening. Crenshaw was “tough as nails,” said Diaz-Balart, but always the absolute gentleman. Crenshaw was never a guy who tried to always be on television with a fiery speech or hurl insults at others. Instead, Diaz-Balart said he was someone “who just got things done,” Crenshaw whether it was keeping U.S. Navy assets in Northeast Florida or spearheading legislation for people with disabilities. Diaz-Balart said Crenshaw was a mentor and valuable teacher to him. The two have served together in Florida and Washington, D.C. Crenshaw’s public service included several terms in the Florida House in the 1970s before returning to the private sector. He served in the Florida Senate from 1986-94, a stretch when Diaz-Balart served stints in both sides of the state Legislature. When Crenshaw began his run in Congress in 2001, Diaz-Balart wasn’t far behind, arriving in 2003. He often sought Crenshaw out for advice while in Washington and Crenshaw was always willing to provide it. Crenshaw continued on Page A-4
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