JEDC approves $2.5M incentives for Medtronic

Medtronic Inc. , a Minneapolis medical technology developer with a strong Northeast Florida presence, received approval from the Jacksonville Economic Development Commission Thursday for a $2.5 million financial incentives package to jump-start job creation.

Medtronic has three Jacksonville offices and about 600 local employees, and the company will use the incentives package to generate close to 200 jobs by 2015 at its Southside location. The average salary for those positions is $80,000 per year, according to a JEDC report.

The city will provide $660,000 in qualified target industry tax incentives, while the state will hand over $1.87 million.