JinkoSolar, a manufacturer of solar panels, proposes to invest more than $52 million in its Cecil Commerce Center plant and create 250 jobs if the city agrees to a grant of $2.3 million over 10 years.

The city Office of Economic Development intends to ask the Mayor’s Budget Review Committee for approval to introduce legislation for the deal April 25 with Jacksonville City Council.

The Recapture Enhanced Value Grant would be equal to 50% of the increase in ad valorem taxes paid by the company over the first 10 years, with a maximum payout of $2.3 million.

Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.