Okaloosa County voters will decide whether to renew a decade-long economic incentive program in the upcoming November general election, following a 4-1 vote by the Board of County Commissioners on Tuesday.
- The board approved a resolution to place a referendum question on the November 2024 ballot, asking voters to consider continuing the county’s authorization to grant property tax exemptions for new and existing businesses that create full-time jobs.
- The current authorization expires on August 26.
Nathan Sparks, representing One Okaloosa Economic Development Council, presented the case for renewal. “It’s an economic development tool that we can use to both enhance our existing businesses by helping them expand, as well as attracting new businesses to our area,” Sparks said.
According to Sparks, the program has been utilized 12 times since 2014. County records show it has resulted in 229 net new jobs and $74,555 in county exemptions through the 2023 tax year.
Commissioner Nathan Boyles cast the lone dissenting vote, expressing concerns about the program’s effectiveness. “At the end of the day, my humble opinion as a business owner is that these awards made zero difference in any of the decisions that were made by these entities,” Boyles stated.
- Boyles argued that the program requires significant effort from county staff and the property appraiser’s office for minimal return. He suggested exploring alternative grant programs that might offer more meaningful economic development opportunities.
Commissioner Mel Ponder moved to put the measure on the ballot, highlighting the program’s performance-based nature and strong return on investment. “It’s ROI driven. When I talked to you about ROI, it’s extremely strong,” Ponder noted.
Commission Chairman Paul Mixon acknowledged Boyles’ concerns but supported putting the decision to voters. “As we move forward, I don’t know that this will be a need to have. Unfortunately, our neighbors do have it. I think we would be taken off the list even faster by not having this small tool,” Mixon said.
Sparks emphasized that the program is performance-based, requiring annual compliance documentation from participating companies. He also noted that 19 Florida counties currently have similar programs, including nearby Escambia, Santa Rosa, Walton, and Bay counties.
If approved by voters, the renewed authority would extend for another 10 years. The referendum will appear on the November 5, 2024, general election ballot.
One Response
What this area needs is focusing on select new businesses such as small businesses and stop more storage facilities and hotels. Bring in more national chain restaurants into non-beach areas. As for the referendum of economic development tax exemptions, appears from it’s origin in 2014 to 2023, the current exemption has averaged an increase of a meager 25 jobs and netted only an average of less than $8,300 annually. The income does not justify the exemption. What is the salary cost of a staffer to document and track $8,300? Let’s start at $40,000 or better. I will vote no.