Jabil wins city tax exemption
August 21, 2020 - The St. Petersburg City Council approved a tax break for Jabil, the largest company headquartered in the city. A new Innovation Center at Jabil (NYSE: JBL) met all the criteria under the city’s economic development ad valorem tax exemption program, according to city administrators, who recommended approval. The $11.4 million research and development facility, part of a larger campus renovation, resulted in 12 new jobs paying an average of $95,000 each. The City Council voted unanimously without discussion Thursday night to give Jabil a tax exemption of $100,000 a year for five years. The company, an electronics manufacturing services business, has to provide a yearly update on new jobs and salaries.