Joe Nackashi, vice chairman of technology at ICE, announces the company's expansion on Tuesday, Dec. 17, 2024. | Michelle Corum, Jacksonville Today
Published on December 17, 2024 at 1:02 pm
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Financial services company Intercontinental Exchange Inc. — operator of the New York Stock Exchange — plans a $173 million expansion in Jacksonville.
The company, city officials and the JAX Chamber‘s economic development arm, JAXUSA Partnership, announced the expansion Tuesday.
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Jacksonville City Council in November approved a $21 million incentive package for ICE, which was identified at the time by the code name Project Paper Co.
Intercontinental Exchange is a Fortune 500 company that designs, builds and operates digital networks. It acquired Jacksonville-based Black Knight Inc. last year.
Joe Nackashi, ICE’s vice chairman of mortgage technology, said the company will create headquarters for its mortgage and technology division, which its website says is “digitizing the entire mortgage process to reduce cost and increase efficiencies.”
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Employees will move to Jacksonville from Chicago, Boston and London.
“Across the board, as I sit down with these employees to understand what made them move to Jacksonville, they absolutely love every aspect of our community, and that’s a testament to what we’re doing every single day in terms of advancing and building this wonderful city,” Nackashi said.
The company will operate out of the former Black Knight building, which it owns at 601 Riverside Ave. in Brooklyn. ICE also is looking to expand to an unannounced building.
According to the Jacksonville Daily Record, a Jacksonville Today news partner, the expansion will include renovations and space for its 1,500 employees and 500 more over seven years. The new jobs will pay an average of $125,000 a year, including benefits.
Nackashi said the company is derived from decades of financial technology companies. Over the last 20 years, he said, a number of mortgage-related companies have spun out from Fidelity National Financial in Jacksonville. They include Lender Processing Services, Fidelity Information Services and Black Knight.
