§ 2-283. Industrial economic development incentives.

Economic incentives to target industrial business enterprises shall be in the form of rebates of ad valorem taxation of the assessed value of improvement to real property made by or for the use of the target business. Only those business enterprises meeting the eligibility criteria described below shall be considered for a rebate. Rebates shall be calculated on the following criteria:

(a)

Rebates. Eligible business enterprises shall be entitled to apply for rebates based upon the number of full-time jobs created and the average wage of the jobs. The county will offer this rebate based on the following scale as it pertains to the average wage rate of the industry:

(1)

One hundred percent to 150 percent greater than the county's average wage rate as defined annually by the state: 100 percent for ten years.

(2)

One hundred fifty-one percent or greater than the county's average wage rate as defined annually by the state: 100 percent for 15 years.

(b)

If a company locates within a Florida Brownfield Redevelopment Area within the county, the rebate will be based upon the following scale:

(1)

Eighty-five percent to 115 percent greater than the county's average wage rate as defined annually by the state: 100 percent for ten years.

(2)

One hundred sixteen percent or greater than the county's average wage rate as defined annually by the state: 100 percent for 15 years.

(c)

Rebates may be awarded by the board of county commissioners for the assessed value of all improvements to real property made by or for the use of the target business that were paid to the county for the year that the business enterprise created the jobs giving rise to the rebate. Nothing herein shall be construed to obligate Santa Rosa County to approve the maximum rebate. The board of county commissioners shall have sole discretion to approve each rebate application and the amount of the rebate. Approval of any rebate shall be subject to lawfully available and budgeted funds.

(d)

The following criteria must be satisfied by all applicants for rebate awards:

(1)

Business enterprises must create or maintain in the county a minimum of five full-time jobs during the year for which the rebate is sought.

(2)

Eligible business enterprises must have commenced operations with an established payroll for permanent, full-time jobs during the first year for which a rebate is sought. Business enterprises engaged in construction and other actions in anticipation of commencing operations, but which have not yet commenced operations and established a payroll for permanent, full-time jobs, shall not be eligible. Business enterprises shall not be eligible for a rebate during any year in which it ceases operations in the county.

(3)

Eligible business enterprises must generate at least 50 percent of their gross revenues from outside the three-county area—Santa Rosa, Escambia and Okaloosa.

(4)

Eligible business must annually reapply for rebates between January 1 and February 15 for the preceding calendar year.

( Ord. No. 2016-24 , § 4, 12-8-16)