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Deutsche Bank considers Jacksonville for $10 million expansion project and 260 new high-wage jobs

Jacksonville Mayor Alvin Brown and JAXUSA Partnership, a division of the JAX Chamber, announced today that Deutsche Bank is considering Jacksonville for a major expansion project that would create 260 new jobs with an average wage of over $52,000 and more than $10 million capital investment in its existing campus.

The success of developing the investment banking back office functions in Jacksonville has caused the bank to explore other highly specialized roles in technology, front office and finance jobs. The bank is considering several locations, including Jacksonville, for this expansion of its footprint.

Jacksonville City Council is being asked to consider a local 20 percent match for the State of Florida’s Qualified Target Industry Tax Refund program for the new jobs and a REV grant to offset some property taxes on the proposed new capital investment.

In 2008, Deutsche Bank was recruited to open a global technology and operations center in Jacksonville and has since created approximately 1,000 jobs and invested $17 million in its Meridian office campus on Gate Parkway. This proposed expansion would add another 30,000 square feet of space to accommodate the company’s growth.

While attending the Farnborough Air Show, JAXUSA leaders had the opportunity to meet with representatives of Deutsche Bank in London.


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