Backup Documents 09/23/2011 W (EDC)
BCC
WORKSHOP
.MEETING
W /EDC
BACKUP
DOCUMENTS
SEPTEMBER 23, 2011
ECONOMIC
DE"LELOPMENT
COUNCIL
of C.I/xr Cowrty.F%rid,
AGENDA
BOARD OF COUNTY COMMISSIONERS
ECONOMIC DEVELOPMENT COUNCIL OF COLLIER COUNTY
WORKSHOP
Friday September 23, 2011
9:00 a.m. — 12:00 p.m.
9:00 a.m. PLEDGE OF ALLEGIANCE
9:00 — 9:10 a.m. INTRODUCTION
Mr. Bob Mulhere, Chairman, EDC Board of Directors
9:10 - 9:15 a.m. INTRODUCTION OF KMK CONSULTANT, JIM MCGRAW
Mr. Tim Cartwright, Chairman-Elect, EDC Board of Directors
9:15 — 10:15 a.m. PRESENTATION: Collier County Economic Development Plan
Mr. Jim McGraw, President, KMK Consulting
10:15 — 12 p.m. RECOGNIZE PRESENTOR, OPEN DISCUSSION &
PUBLIC INPUT
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Collier County
Florida's 17th most populous county
with 1.7% of Florida's population
Population Housing
Population
(Census, Estimates, & Projections) Collier County Florida Housing Counts Collier County Florida
1980 Census 85,971 9,746,961 Housing units, 2000 Census 144,536 7,302,947
1990 Census 152,099 12,938,071 Occupied 102,973 6,337,929
% change 1980-90 76.9% 32.7% Owner-occupied 77,825 4,441,799
2000 Census 251,377 15,982,824 Renter -occupied 25,148 1,896,130
% change 1990-{)0 65.3% 23.5% Vacant 41,563 965,018
2010 Census 321,520 18,801,310 Housing units, 2010 Census 197,298 8,989,580
% change 2000-10 27.9% 17.6% Occupied 133,179 7,420,802
Owner -occupied 96,159 4,998,979
2010 Population Renter -occupied 37,020 2,421,823
Hispanic or Latino 83,177 4,223,806 Vacant 64,119 1,568,778
% Hispanic or Latino 25.9% 22.5%
Under 18 years of age 62,647 4,002,091
% Under 18 years of age 19.5% 21.3% Units Pennilted Collier County Florida
65 years of age and over 84,951 3,259,602 2000 7,970 155,269
% 65 years of age and over 26,4% 17.3% 2001 8,158 167,035
Median Age 46.9 40.7 % change 2oo0-{)1 2,4% 7.6%
2002 7,282 185,431
2015 Projection based on 2009 Estimate 365,733 19,881,179 % change 2001-{)2 -10.7% 11.0%
2020 Projection based on 2009 Estimate 406,465 21,246,926 2003 5,820 213,567
% change 2015-20 11.1% 6.9% % change 2002-{)3 -20.1% 15.2%
2004 6,921 255,893
Persons per square mile % change 2003-04 18.9% 19.8%
2000 124.1 296,4 2005 6,622 287,250
2010 160.9 350.6 % change 2oo4-{)5 -4.3% 12.3%
2006 4,788 203,238
Households and Family Households % change 2005-06 -27.7% -29.2%
2007 2,095 102,551
Households Collier County Florida % change 2006-{)7 -56.2% -49.5%
Total households, 2000 Census' 102,973 6,338,075 2008 951 61,042
Family households, 2000 Census 71,264 4,210,760 % change 2007-{)8 -54.6% -40.5%
% with own children under 18 32.8% 42.3% 2009 944 35,329
Total households, 2010 Census 133,179 7,420,802 % change 2008-{)9 -{).7% -42.1%
Family households, 2010 Census 89,276 4,835,475 2010 1,259 38,679
% with own children under 18 33.0% 40.0% % change 2009-10 33,4% 9.5%
Average Household Size, 2010 Census 2.38 2,48 Total Units Permitted 2000-2010 51,551 1,666,605
Average Family Size, 2010 Census 2.84 3.01
According to Census definitions, a household includes all of the people who occupy a housing unit. The occupants may be a single family, one person living alone, two or more families living together, or any other group
of related or unrelated people who share living quarters. A family includes a householder and one or more other people living in the same household who are related to the householder by birth, marriage, or adoption.
"'Corrected for Census Count Question Resolution (CQR).
Existing Single-Family Home Sales
Percent Change in Homes Sold
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
Collier County
19.9%
11.7%
16.0%
3.7%
-40.9%
-10.7%
26.5%
NA
NA
Florida
9.9%
13.1%
10.7%
2.5%
-27.6%
-29.2%
-4.3%
31.4%
4.9%
Percent Change in Median Sales Price
2001-{)2
2oo2-{)3
2003-04
2004-{)5
2005-06
2006-{)7
2007-08
2006-09
2009-10
Collier County
11.9%
12.7%
28.4%
29.8%
0.0%
-1.3%
-4.0%
NA
NA
Florida
8.8%
11.8%
17.1%
29.2%
5.6%
-5.5%
-19.8%
-24.0%
-4.2%
Note: Home sales data are calculated for Metropolitan Statistical Areas (MSAs). Data shown here reflect the value for the MSA in which the county is located.
t::\) L.
w D(lAL l,. \--t 01
'1-z.~/",
LO(\"M
Hi~
~
Average Annual Employment,
% by Category, 2010 preliminary
Natural Resource & Mining
Construction
Manufacturing
/frade, Transportation and Utilities
Information
Financial Activities
....... Professional & Business Services
/'Education & Health Services
.......Leisure and Hospitality
Other Services
V Government
Lab orce as Percent of Population
Aged 18 a der
1990
2000
2010
Personal Income ($OOOs)
2000
2001
% change 2000-01
2002
% change 2001-02
2003
% change 2002-03
2004
% change 2003-04
2005
% change 2004-05
2006
% change 2005-06
2007
% change 2006-07
2008
% change 2007-08
2009
% change 2008-09
Collier County
4.2%
7.9%
~
18.8%
~
5.7%
10.2%
14.9%
18.8%
4.5%
11.5%
Collier County
$10,151,603
$11,225,251
10.6%
$11,910,768
6.1%
$12,660,936
6.3%
$15,171,307
19.8%
$16,771,199
10.5%
$19,129,297
14.1%
$19,942,496
4.3%
$20,100,424
0.8%
$19,127,928
-4.8%
Earnings by Place of Work
Earnings ($0005)
2000
2001
% change 2000-01
2002
% change 2001-02
2003
% change 2002-03
2004
% change 2003-04
2005
% change 2004-05
2006
% change 2005-06
2007
% change 2006-07
2008
% change 2007-08
2009
% change 2008-09
Collier County
$4,980,260
$5,450,872
9.4%
$5,670,911
4.0%
$6,327,632
11.6%
$6,935,502
9.6%
$7,741,044
11.6%
$8,220,310
6.2%
$8,240,743
0.2%
$7,623,233
-7.5%
$7,011,567
-8.0%
57.6%
55.8%
y In ustry
verage Annual Wage,
010 preliminary
A industries
atural Resource & Mining
onstruction
anufacturing
ade, Transportation and Utilities
I formation
nancial Activities
rofessienal & Business Services
ducation & Health Services
Leisure and Hospitality
Other Services
Government
Financial Health
Florida
$466,644,105
$487,498,511
4.5%
$508,399,908
4.3%
$531,218,073
4.5%
$582,765,910
9.7%
$633,192,675
8.7%
$690,268,109
9.0%
$721,051,518
4.5%
$739,403,128
2.5%
$722,328,176
-2.3%
Florida
$312,145,165
$325,018,624
4.1%
$340,360,544
4.7%
$361,091,583
6.1%
$389,502,660
7.9%
$423,331,870
8.7%
$452,353,587
6.9%
$462,342,755
2.2%
$457,464,986
-1.1%
$437,793,262
-4.3%
Per Capita Personal Income
2000
2001
% change 2000-01
2002
% change 2001-02
2003
% change 2002-03
2004
% change 2003-04
2005
% change 2004-05
2006
% change 2005-06
2007
% change 2006-07
2008
% change 2007-08
2009
% change 2008-09
Percent in Poverty, 2009
All ages in poverty
Under age 18 in poverty
Ages 5-17 in families in poverty
Personal Bankruptcy Filing Rate
(per 1,000 population)
2000
2010
State Rank
Note: Florida numbers exclude Miami-Oade County.
Collier County
$40,824
$19,310
$40,363
$48,202
$35,373
$56,905
$66,547
$52,752
$48,926
$26,644
$29,421
$48,431
3.7%
12.0%
Collier County
$39,956
$42,483
6.3%
$43,254
1.8%
$44,441
2.7%
$51,349
15.5%
$54,693
6.5%
$61,381
12.2%
$63,620
3.6%
$63,703
0.1%
$60,049
-5.7%
Collier County
12.6%
19.6%
17.4%
Collier County
2.56
5.31
21
t~
Florida
$41,570
$24,287
$41,088
$51,847
$37,111
$61,487
$57,043
$49,155
$43,685
$21,448
$29,608
$47,360
Florida
$29,080
$29,809
2.5%
$30,479
2.2%
$31,283
2.6%
$33,540
7.2%
$35,605
6.2%
$38,161
7.2%
$39,449
3.4%
$40,133
1.7%
$38,965
-2.9%
Florida
15.0%
21.5%
19.7%
Florida
4.45
5.72
NA
tP-v
Collier County
Page 3
Reported County Government Revenues and Expenditures
Revenue Collier County Florida'
Tota! - All Revenue Account Codes
($OOOs) $945,377.6 $39,132,778.9
Per Capita $ $2,838.70 $2,192.32
% of TOlal 100.0% 100.0%
Taxes
($Ooos) $346,703.2 $12,415,135.1
Per Capita $ $1,041.05 $695.53
% otTotal 36.7% 31.7%
Permits, Fee, and Special Assessments
($OOOs) $28,802.2 $1,100,642.2
Per Capita $ $86,48 $61.66
% otT olal 3.0% 2.8%
Intergovernmental Revenues
($ooOs) $76,312.6 $3,849,791.2
Per Capita $ $229.14 $215.67
% of Total 8.1% 9.8%
Charges for Services
($OOOs) $253,589.1 $10,581,450.2
Per Capita $ $761,46 $592.80
% otTolal 26.8% 27.0%
Judgments, Fines, and Forfeits
($OOOs) $5,916.3 $189,913.6
Per Capita $ $17.76 $10.64
% otTotal 0.6% 0.5%
Miscellaneous Revenues
($ooOs) $29,886.5 $1,451,343,4
Per Captta $ $89.74 $81.31
% otTotal 3.2% 3.7%
Other Sources
($OOOs) $204,167.7 $9,544,503.3
Per Capita $ $613.06 $534.71
% otTotal 21.6% 24,4%
... All County Governments Except Duval- The consolidated City of Jacksonville I Duval
County figures are included in municipal totals rather than county government totals.
., (Not Court-Related)
Quality of Life
Educational attainment
Persons aged 25 and older
2005-2009 ACS Collier County
% HS graduate or higher 84.7% +1- 0.7%
% bachelo(s degree or higher 30.7% +1- 0.6%
+/- = margin of error based on a 90% confidence level.
Florida
84.9% +1- 0.1 %
25.6% +1- 0.1 %
Crime
Crime rate, 2010 (index crimes per
100,000 population)
Adm issions to prison FY 2009-10
Admissions to prison per 100,000
population FY 2009-10
Collier County
Florida
2,039.8
412
4,104.7
36,994
128.1
196.8
State and Local Taxation
2010 Ad Valorem Millage Rates
Collier County
County-Wide Not County-Wide'
3.8145 0.5719
5.6990
County
School
Municipal
Special Districts
"'MSTU included in Not County-Wide "County" category
0.5107
0.5908
0.8272
Expenditures Collier County Florida'
Total- All Expenditure Account Codes
($ooOs) $ 1,010,304.2 $ 39,053,226.0
Per Capita $ $ 3,033.66 $ 2,187.86
% otTotal 100.0% 100.0%
General Government Services"
($ooOs) $ 238,118.2 $ 6,634,314.1
Per Capita $ $ 715.00 $ 371.67
% otTotal 23.6% 17.0%
Public Safety
($ooOs) $ 227,588.0 $ 8,297,931.6
Per Capita $ $ 683.38 $ 464.87
% of Tota! 22.5% 21.2%
Physical Environment
($OOOs) $ 175,968.2 $ 4,221,990.2
Per Capita $ $ 528.36 $ 236.53
% of Tota! 17,4% 10.8%
Transportation
($OOOs) $ 118,444.6 $ 4,843,314.2
Per Capita $ $ 355.66 $ 260.13
% otTotal 11.7% 11.9%
Economic Environment
($OOOs) $ 12,147.8 $ 1,366,967,4
Per Capita $ $ 36,48 $ 77.70
% otTotal 1.2% 3.6%
Human Services
($OOOs) $ 11,359.8 $ 3,423,577.4
Per Capita $ $ 34.11 $ 191.80
% otTotal 1.1% 8.8%
Culture 1 Recreation
($OOOs) $ 49,997,4 $ 1,724,518.2
Per Capita $ $ 150.13 $ 96.61
% of Total 4.9% 4,4%
Other Uses and Non-Operating
($Ooos) $ 162,464.8 $ 7,741,364.0
Per Capila $ $ 487.84 $ 433.69
% of Total 16.1% 19.8%
Court-Related Expenditures
($OOOs) $ 14,217.5 $ 979,248.9
Per Capita $ $ 42.69 $ 54.86
% of Tolal 1,4% 2.5%
State Infrastructure
Transportation Collier County Florida
State Highway
Centerline Miles 206.1 12,088,4
Lane Miles 651.3 42,710.8
State Bridges
Number 214 6,596
State Facilities Collier County Florida
Buildings/Faciltties
Number 14 3,953
Square Footage 197,981 57,290,992
State Lands Collier County Florida
Conservation Lands
Parcels 20,900 36,754
Acreage 221,822.2 3,198,689,4
Non-Conservation Lands
Parcels 651 7,633
Acreage 29,081.6 250,096.6
Prepared by;
Aorida Legislature ..,"~-
Office of Economic and Demographic Research ~A
111 W. Madison Street, Suite 574 +.
Tallahassee, FL 32399-6588
(850) 487-1402 http://edr.state.fl.us JulV 2011
cV
The Florida Legislature
Office of Economic and
Demographic Research
850.487,1402
htto:/ledr,state,fl, us
Economic Development Incentives
Report
A summary of the local governments' responses to the new reporting
requirements outlined in sections 125.045 and 166.021, Florida Statutes.
"~t,Y. jl'>'
15:' D\.._ U.j v"
Agenda Item #:
n "i Ii'
f'1 i '" '.' I If
Meeting Date: :'C:"i .:i/ f?'
f
P tdb Ll'!i~:Jrr
resen e y: / j /} i ..--,
lmgl;~ i!l
Page 2
It'll hin Ie
~
l~
Summary
The 2010 Legislature passed Committee Substitute for Senate Bill 1752 (Chapter 2010-147,
Laws of Florida) relating to economic development. Sections 1 and 2 of the legislation amended
sections 125.045 and 166.021, Florida Statutes, and imposed new economic development
reporting requirements on county and municipal governments.
Per the legislation, the Office of Economic and Demographic Research (EDR) as the successor
to the Legislative Committee on Intergovernmental Relations compiled the data submitted by
local governments and produced the ensuing report. The report shows the total of each class of
economic development incentives provided by each county and municipal government and a
total for all counties and all municipalities, respectively. Pursuant to the new law, EDR will
provide a copy of this report to the Governor's Office of Tourism, Trade, and Economic
Development and any other interested parties. This report will also be posted to EDR's web site at
http://edr.state.fl.us
Results
A survey form for reporting the economic development incentives information was made
available to all local governments for completion between mid-October 2010 and late January
2011. Emails were sent to local fiscal managers and directors providing information on the law
change and directions for completing the survey. A total of74 local governments completed the
survey, 38 counties and 36 municipalities.
Respondents were asked to report incentives by class and type. A detailed description of each
class can be found in the Glossary at the end ofthe report.
. Direct Incentives - monetary assistance provided to one or more businesses or
through an organization authorized by the local government. Direct incentives
include grants, loans, equity investments, loan insurance and guarantees, and training
subsidies.
. Indirect Incentives - grants or loans provided to businesses or community
organizations that provide support to businesses or promote business investment or
development.
. Fee-based or Tax-based Incentives - Tax or fee credits, refunds, exemptions, or
property tax abatement or assessment reductions.
. Below Market Rate Leases or Deeds for Real Property - provided to businesses from
the local government.
Of the 37 counties that submitted surveys, 10 counties did not issue economic development
incentives which met the statutory reporting requirement (incentives greater than $25,000 during
the previous fiscal year!). Even so, 2 ofthe 10 counties chose to voluntarily report its incentives.
Incentives in the amount of $84.4 million were reported by the counties that completed this
I These counties included Bradford, Calhoun, Desoto, Franklin, Madison, Monroe, Vol usia, and Wakulla. Alachua
and Walton counties chose to report their incentives.
Page 3
tV
survey. The largest percentage of the incentives granted was in the form of indirect incentives
accounting for $40.5 million of the total incentives (47.9%). Of interest, more counties gave
more businesses direct incentives such as grants, but the dollar value was lower. Finally, only
Santa Rosa and Sarasota counties have taken advantage of all four classes of incentives.
Of the 35 municipalities that reported, 15 municipalities did not issue economic development
incentives which met the statutory reporting requirement (incentives greater than $25,000 during
the previous fiscal year2). However, 3 of these municipalities chose to voluntarily report their
incentives. Incentives in the amount of$60.7 million were reported by the municipalities that
completed this survey. The largest percentage of the incentives granted was in the form of fee
and tax credits, accounting for $36.8 million of the total incentives (60.7%).
Note: The value of property tax assessment reduction was calculated to reflect the value of
the reduction in property tax. not the value of the assessment reduction,
2 These municipalities included Belleair Shore, Boca Raton, Callaway, Cape Coral, CaryvilIe, Clermont, Destin,
Freeport, Live Oak, Lynn Haven, Oakland, Panama City, Pinellas Park, Pomona Park, and Starke. Saint Petersburg,
Bunnell, and Plant City chose to report their incentives.
Page 4
c
, E; - \>"
0):/ .-('
>Ai ~\ v'
Counties
uv
Total Incentives
Incentive
DireCt Incentives
Indirect Incentives
Fee or Tax Based Incentives
Below marl{et lease/deeds
Total
B Incentive
J
Direct Incentives
Grants
Loa ns
Equitylnves.t01cllt
Loa n Ins Ul1l11Ce
Loan Guarantees
# of counties that Total amount granted Total # of Avg. per
% businesses that
granted incentives ($) received incentives business
$29,675,804 35.1% 125 $237,406
15 $40,450.510 47.9% 62 $652,428
17 $\2,774.650 15,1% III $115,087
3 $1,541,679 1,8%, 4 $385,420
$84,442,643 100,0% 302 $279,611
# of counties that
granted direct
incentives
Total amount gr,lOted
($)
$27,705,603 .
Indirect lnc ntives
Loans
Other
Total
.J 1<'1.'1.' or Tax Bascd Incentives
Credits
Refunds
Exemptions
Pl'Operty Tax Abatement
PI'OJ>CrtY Tax Reduction
Othe I'
Total
Total amount granted
($)
$36;951,113
$40,521,032
6
3
7
I
I
$471,103
$252,631
$10.785,879
$(;35,593
$239,381
$IJ,774,650
Page 5
93.8%
3,8%
91.2%
8.8%
100%
3,1%
3.7%
2,0%
84.4%
5,0'(0
1.9%
100%
%
Total # of
businesses that
received incentive
95
Total # of
businesses
that received
incentive
$ 291,638
'1S'O l.{ 3~
,
%
Total # of
businesses that
received incentive
Total # of
businesses
that received
incentive
$ 648,265
57
16
73
$ 223,120
$ 555,083
%
Total # of
businesses that
received incentive
4
27
13
65
1
1
67
Total # of
businesses
that received
incentive
$97,516
$17 .448
$19,433
$165.937
$635.593
$239.381
$190,666
B
Below Mari,etLeases 01'
Deeds
%
Total # of
businesses that
received incentive
# of counties that
granted incentives
2
2
Total amount granted
($)
$1,032,800
$508,879
$1,541,679
Leases
Deeds
67,0%
33,0%
100%
2
2
4
Total
Incentives Geared towards certain industries
# of counties that gear their
lndustry Type incentives towards that
industrv
'Mall nlactn ring 20
Corporate Headquarters 19
Professional Services 14
Research and Development 18
lnformation Technology 19
Financial Services 16
Multi-state/multi-national distribution 16
Business Services 16
Other3 14 ,
&
Total # of
businesses
that received
incentive
$516,400
$254,440
$385.420
3 Other industries that counties have their incentives geared towards are: Aviation/Aerospace, Health & Life
Sciences, Computer Sciences, Logistics and Distribution, Healthcare, Building Systems, Medical Devices,
Renewable Energy, Bioscience, Agri-technology, Arts, Sports, Maritime, Manufacturing, Modeling and Simulation,
Cleantech, TourismlRecreation/Entertainment, Transportation
Page 6
?S
,,'" t' .A~.1
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10.
Responses by County
Total Below
Total Fee and lVhu"kct Lense Tot,,1
Count)" Total Direct Totlll :Iradirect Tax Bused or Deem Incentives
Alachua $23,917 $23,917
Baker 0
Bay $860.782 $860.782
Ol"udford 0
B.'e"nl"d $1,500,050 $216,186 $1,716,236
BrO\'\'ll."d $176,325 $774,650 $950,975
Calhoun 0
CharlotTe 0
Cih"uS $72,000 $72,000
ClllY 0
Collicr $47,668 $400,000 $447,668
Colunlbia $1,208,527 $1,208,527
De. S 0"0 0
Dixie 0
DU'id $5,194,379 $98.9.1l0 $5,293.319
.F.scaIlJbiu $500,000 $1,049,219 $3,916,704 $5,465,923
Angler 0
F."auklin 0
Gads den 0
Gilchris t 0
Glades 0
Gulf 0
1-lanlilt'on 0
"tarde-eo $3,000,000 $203,174 $7,379 $3,210,553
Heridr). 0
llernnndo 0
Highlands 0
HiJlsborol.lgh $2,865,768 $845,841 $268,756 $3.980.365
l-Jolmes 0
Indian Rh'el" $452,951 $692,099 $1,145,050
Jefferson 0
Lafayette 0
Lake $149,000 $149,000
Lee $11,441,300 $11,441,300
u91l 0
.Le", 0
Liberty $635,593 $635,593
l\ladis ou 0
J.\.:lllJlDtee $139.277 $231,000 $370,277
!\olarion 0
(\-fa rUn $60,000 $60,000
J\'lon..oe 0
l\1ianli":Dade $2,766,309 .' $476,877 $3.243.186
N~lssau $0
Ok;tIoosa $199,609 $199,609
OkeechobC'e 0
O,'unge $355,00,\ $31.922,887 $32,277,890
Os ('coin $547,762 $547,762
1>11h11 Beach $702,522 $1,411,584 $35,264 $2,149,370
P;lSCO 0
Pillcllus 0
Poth, $109,000 $62 $109,062
Putnam 0
S t. ~Johns $421,152 $217,200 $2,554 $640,906
St. Lucie $48,900 $250,000 $4,083,070 $4.381.970
Santa ROS}l $3,000 $464,040 $14,193 $504,000 $985,233
Sarasota $118.,488 $3$0,obo $239.313;1 $1,030,300 $1,738.169
Seminole $490,000 $390.000 $880,000
SUlider 0
S U"ll1JUee 0
Taylor 0
Union 0
V.olnsia 0
"V.:akuJln 0
'V:nltOl1 $15,000 $243,000 $258,000
'.\Iashington 0
Total $29,675.804 $40,450,510 $12,774,649 $1,541,679 $84,442,642
Page 7
tY
d
&
County Responses Map
$5()()J)() I . $I.()()(),OO()
$1.000,OO! - $5,O()(),O()()
Grealer Thall $5,000,000
Less Than $25,000
$25.000 . $500,000
No DIIla
o
Counties that indicated that they were not required to remit the survey are included with the
counties who reported incentives less than $25,000.
Page 8
~
Municipalities
Total Incentives
# of municipalities Total amount granted Total # of Avg. per
lncentivt' that granted ($) % businesses that business
inct'ntives received incentives
Direct Incentives 13 $9,00:;,894 14,8% 71 $126,844
lndi re ct I nee ntiv e s 9 $1,:;4:;,:;82 2.5% 29 $:;3.296
Fee or Tax Based Incentives 13 $36,840.208 60,7% 185 $199,136
Below mali,et lease/dt'eds 6 $13,349,971 22,0% 45 $296,666
Total $60,741,65:; 100,0% 330 $184,066
B Incentive
Total # of
# of munieipalities Total # of businesses
that granted direct Total amount granted 0/0 businesses that that received
Dit-ect Incentives incentives ($) received incentive incentive
Grants 11 $8,757,158 98,9% 64 $136,831
Loans
Equitylnv.estment
Loan Insul'llnce
Loan Guarantees ~\1
Training
Othe r $96,965 1.1% 2 $48,483 y~~
Total $8,854,123 100% 66 $134.153
Total # of ~,>L&r(
# of municipalities Total # of businesses
that grantt'd indirect Total amount grantt'd % businesses that that received '<..,~f'
Indirect Incentivt's incentives ($) receh'ed inct'ntive incentive L,
Grants 6 $1,I11,051 71,9% ]9 $58,476
Loans
Other $434.531 28,]% ]2 $36,211
Total $1,545,582 100% 31 $49,857
Total # of
# of municipalities 0;;, Total # of businesses
that gmnted Total amount granted businesses that that received
Fee or Tax Based Incentives incentives ($) received incentive incentive
Credits 2 $28.364,141 77.1% 133 $213,264
Refunds 5 $202,508 o.m~) 23 $8.805
Exe mptions 2 $4,272,577 11.6% II $388.416
Property Tax Abatement 4 $3,710.419 10.1% 13 $285.417
Property Tax Reduction
Othe r 2 $733,620 0.6% 3 $77,873
Total $36,783265 100% 183 $201,001
Page 9
tQJ
B
Leases
Deeds
6
Total amount granted
($)
$q,349,971
%
Total # of
businesses that
received incentive
45
Total # of
businesses
that received
incentive
$296,666
Below Marl..et Leases 0..
Deeds
# of municipalities
that gr,mted
incentives
100,0%
Total
$13.349,97 ]
100%
45
$296,666
Incentives Geared towards certain industries
# of municipalities that gear
Industry Type their incentives towards that
industry
Manufacturing 8
Corporate Headquarters 7
ProfessionalServ-ices 5
Research and Development 8
Inforlllation Technology 8
Financial Services 6
Multi-statelmulti-national distriblltion 6
Business Services 5
Other4 7
4 Other industries that counties have their incentives geared towards are: Enterprise Zone Businesses, Restaurants,
Boutiques, Arts, Antiques & Tourism, Life Sciences, Digital Media, Operation Centers, State and Private
College/University satellite campuses, Life and Bio Sciences
Page
10
~\V
Responses by Municipality
Value ($1 of Incentives
Total Below
Municipality Totul Direct Totul Total Fee and Market Total
Indirect Tax Based Lease or incentives
Deeds
Bonita Springs $54,945 $54,945
Brooksville $28,879 $28,879
Davie $346,965 $346,965
DeFuniak Springs $40,396 $75,015 $115,411
Oeltona $25,619 $25,619 $51,238
Fort Walton Beach $32,000 $24,021 $247,347 $303,368
Keystone Heights $41,228 $41,228
Lake Park $95,530 $95,530
Melbourne $10,000 $64,010 $74,010
Orlando $81,770 $456,617 $295,651 $834,038
Ormond Beach $127,372 $8050 $135,422
Palm Bay $4,495,442 $3,609,480 $5,400,000 $13,504,922
Pinellas Park $32,532 $7,601 $40,133
Port Saint Lucie $3,000,000 $50,000 $1,000,000 $4,050,000
Saint Cloud $395,000 $395,000
Saint Petersburg $20,550 $1,107,637 $1,128,187
Sanford $150,000 $150,000
Sarasota $358,662 $5,198,587 $5,557,249
Tallahassee $100,000 $4,~02,716 $396,400 $4,799,116
Tampa $199,658 $439,000 $28,323.671 $28 962,329
TOTAL $ 8878,521 $1471.898 $ 36,83:2158 $13 349.971 $60,532,548
Page
11
LV
Issues:
The following issues were discussed with local government representatives.
. . Are Community Redevelopment Areas (CRAs) incentives required to be included in
this survey?
o No, the reporting requirements in Sections 125.045 and 166.021, Florida Statutes,
specify that a county or a municipality shaH report economic incentives the
county or municipality granted during the previous fiscal year. As the language
specifies that only counties or municipalities must report, CRAs are not required
to complete the survey. Economic incentives offered to a business within a CRA
from a county or municipality should be included in the county's or municipality's
report.
o Community Redevelopment Areas are dependent special districts that are
financed primarily through tax increment funding. Once approved, ad valorem
taxes are calculated for a CRA for a base year and the value of all real property is
frozen as of a fixed date. Any tax revenues from increases in real property value
after the fixed date are deposited into the Community Redevelopment Agency
Trust Fund. The funds through the tax increment financing must be used for
specific redevelopment purposes in the CRA.
. How to determine below market leases? Leases could be 20 or 99 year leases,
measuring each parcel and their current value would be a cumbersome job,
o Advised using an average value for square footage.
. What about leases for events that aren't solely economic incentives but bring in
revenue (such as stadiums, downtown events, ete?)
o Advised to not include unless they are directly involved in economic
development.
. Do you use the date that incentives are committed or disbursed?
o Disbursed
. Would a bond payment for construction count?
o If the bond was issued for an economic development agency or business.
. Are there are consequences if the survey isn't filled out?
o Currently there is not.
. Should an incentive granted to a non-profit who promotes business activity
included?
o Yes, a recipient of an indirect incentive can include communities, financial
institutions, universities, training providers and childcare providers. Funds can be
tied to expansion projects, communities including infrastructure, training,
highway access, airports, etc. Funds are provided to the intermediaries in the
form of grants, loans, and loan guarantees.
Page
12
~
GLOSSARY
Direct financial incentives provide direct monetary assistance to a business from the 10C~1
government or through a local government funded organization. The assistance is provided
through grants, loans, equity investments, loan insurance and guarantees. These programs
generally address business financing needs but also may be invested in workforce training,
market development, modernization, and technology commercialization activities. Cash grants
provide the greatest flexibility and immediate benefit to the company by reducing capital outlays.
However, loans, bonds, and equity financing are commonly used to make resources available
with an expectation that the dollars will be returned for future investments. Another important
category of direct financial incentives is in the area of training subsidies. Other forms of direct
financial incentive include revolving loan funds, product development corporations, seed capital
funds, and venture funds. These programs directly supplement market resources through public
lending authorities and banks. Direct financial incentives are typically discretionary.
Indirect incentives include grants and loans to local government entities, non-profits, and I
community organizations to support and promote business investment or development. The . j
recipients include communities, financial institutions, universities, community colleges, training
providers, venture capital investors, and childcare providers. In many cases, the funds are tied to
one or more specific business locations or expansion projects. Other programs are targeted
toward addressing the general needs of the business community, including infrastructure,
technical training, new and improved highway access, airport expansions and other facilities.
Funds are provided to the intermediaries in the form of grants, loans, and loan guarantees.
Indirect incentives may also be used to leverage private investment in economic development.
For instance, linked deposit programs in which local government funds are deposited in a
financial institution in exchange for providing capital access or subsidized interest rates to
qualified business borrowers. Indirect financial incentives are typically discretionary,
Tax-based incentives usth (or tax base) as the source of direct or indirect subsidy to
qualified businesses. It i more stable d less visible than direct financial or indirect incentives y/-
because it does not typical y Ire an annual appropriation. Tax-based incentives can be either
discretionary or entitlements. While tax based incentives function like direct financial incentives,
the ubiquitous use of these incentives justifies a separate categorization.
Tax-based incentives can be further classified into five sub-categories:
. CREDITS, which provide a reduction in taxes due, after verification that statutory or
contractual terms have been met.
. REFUNDS, which provide a return on taxes paid, after verification that statutory or
contractual terms have been met.
. EXEMPTIONS, which provide freedom from payment ofa variety of taxes normally
applied to certain business activities.
LOCAL PROPERTY TAX ABATEMENTS or ASSESSMENT REDUCTIONS, which
reduce or decrease the assessed valuation of ad valorem taxes, to include real property
and personal property. Because the ad valorem tax is a local government revenue source,
the cost of the incentive is borne by local governments.
Page
13
~
r&
Memorandum .
RECE\VED
SEP 2 0 2011
Board ofeounlY~
o .
From:
Board of County Commissioners
Leo E, Ochs, Jr, County Manager ~
September 20, 2011
To:
Subject:
Economic Development Update
-~Rec~eq,)
Date:
Commissioners,
In light of the recent EDC decision to permanently close its doors and the pending KMK. Consulting
Company's September 23rd report on their economic development findings, I offer the following
observations pertaining to the KMK. Report. It calls for:
. . County government to become a direct partner in the economic development delivery "system"
. County Manager create an internal economic development team to implement the "system"
. Create a consistent and reliable incentive package
. Create a dedicated and recurring funding source for the incentive packages
There are three key ingredients that a governmental approach to building a sustainable economy needs:
1. Plan - Approved and Supported.
2. Funding - Dedicated and Recurring.
3. Staff-Competent and Proactive.
If given any two of the above, in any combination, success cannot be guaranteed. You need all three.
1. The Compass. The Plan is where it all starts. It is like the charter of a city or county. It creates
the framework for the funding and staff: Vision, Mission, Strategies, Goals, Objectives,
Measurements and Benchmarks. Without a BCC-approved and supported Plan, we are a ship
without a compass with no course to follow to get to our destination.
2. The Sail. Without dedicated Funding to execute the [manciaI portions of the plan, staff efforts
are meaningless. Financial commitment sends a clear message to the private sector that "there is
certainty"; which is just what is needed for good business planning. This is the sail that catches
the businesses and propels us into a good business climate.
3. The Rudder. An effective economic development staff would need to have the authority to lead
the county/community to achieve success. The. leader must be able to operate from a position of
power and make thinl!S happen - orders given if necessary. Staff is the rudder. Without them you
I
are left to drift where the winds and currents takes you.
Following this memo is my suggested approach to build a great business climate in Collier County.
Theses slides will help with our discussion on the 23rd as we move forward with this project.
I will be available to assist and answer any questions at this Friday's workshop with the EDC.
Office of the County Manager
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