The Jefferson County Commission passed an amendment Thursday that provides a jobs incentive for StoneX Group Inc.

The incentive package, passed during the commission’s meeting in Bessemer, was capped at $200,000.

Jeff Traywick, the county’s economic development adviser, said during Tuesday’s committee meeting that StoneX Group, located locally at 2 Perimeter Park South, started in 1924 as a door-to-door egg sales business but has since grown into an international financial services company that’s listed on the NASDAQ and is on Fortune’s 50 top companies list globally.

“They are looking at an expansion of their operations with a capital investment of about $10.9 million,” Traywick said. “About 88 new jobs would be created with this project, with an average wage of about $40.61 an hour. The project itself is being supported by the state of Alabama. They are heavily participating in the incentives package on this project, with their job and investment credits and support through (Alabama Industrial Development Training).”

Full county support for the project will include a tax abatement package, but only the jobs grant was presented and passed today. The tax abatement package will come at the commission’s next meeting.

“We had some stuff we had to finalize with that, but we needed to go ahead and move forward on our discretionary incentive so that the state can finalize their incentive offer,” Traywick said. “They are coming in at about a 5-to-1 ratio on what the county would be doing.”

A cost benefit analysis by the Birmingham Business Alliance estimates that the project will generate about $1.1 million for the county’s general fund and about $604,000 for the educational fund over its lifespan.