EDATES Matter: VOTE YES on the County Referendum for Them on Election Day

$1.2 Billion in Capital Investment and the creation of over 10,000 jobs was the outcome achieved via Escambia's strategic use of EDATES to help incentivize the world's largest Credit Union, Navy Federal Credit Union, to massively expand in Escambia County's District 1

Sandra Averheart from WUWF asked me my thoughts on the upcoming election ballot referendum on EDATES (Economic Development Ad-Valorem Tax Exemptions)

I have long been a proponent of EDATES because I understand them and know they are a powerful tool in our Economic Development tool box for attracting and retaining investment and jobs in Escambia County.

In April we, the BCC,  put this initiative forward for addition on the Ballot in the upcoming November General Election.  I discussed my rationale for strongly supporting EDATES at that time. 

Yesterday afternoon's post by WUWF captures and reiterates the important and positive aspects of EDATES.  From that post:

"The EDATE incentive program was first approved for use in Escambia County and the City of Pensacola in 1992 and last renewed in 2012.

The EDATE is an Economic Development Ad Valorem Tax Exemption. It’s a tool in our tool kit that we can utilize to incentivize job creation,” said Jeff Bergosh, chairman of the Escambia County Commission.

While the exemption does not apply to taxes that go to the Escambia County School District, EDATE allows for a 10-year period of no property taxes to the county, in exchange for some measurable outcomes such as job creation and capital investment.

“I believe it’s a great thing for our community, certainly a great thing for schools — and almost a necessity these days — as every community has to compete for these top-end flagship job creators,” declared Bergosh, recalling the lack of good job opportunities when he entered the workforce in the 1980s.

“I think folks realize that if we want good jobs, if you want to keep your kids, keep them with the ability to stay in Pensacola after they graduate, we got to continue diversifying the jobs base here.”