For the past four or five years,
you’ve heard your Destin Area Chamber of Commerce Board and staff discuss the
need for economic diversification. There
are many reasons for this, the most important being that more jobs created over
more sectors of industry and professions creates a stronger economy, increases
tax revenues for the city and county, and creates a strong, stable business
community.
One of the hurdles we could never
seem to jump where economic diversification is concerned is the lack of
incentives for new or expanding businesses to locate, open, or expand in
Destin. Okaloosa County has had
incentives, but the economic development ad valorem tax exemption incentive (EDATE)
expired in March 2014.
We once again have the opportunity
to vote EDATE back into place for Okaloosa County. We also have the opportunity to vote this
into place, for the first time, for the city of Destin.
When you go to the polls for the
Aug. 26, primary election, you will see this referendum on the ballot. The Chamber’s Board of Directors encourages
you to vote yes for the incentive. It’s a
vote for job creation, a diversified economy, and a stronger business
community.
For the first time in anyone’s
memory, EDATE is supported by the boards of the seven leading business
organizations in Okaloosa County: Crestview Area Chamber, Destin Area Chamber,
Greater Fort Walton Beach Chamber, Niceville Valparaiso Chamber, Building
Industry Association, Emerald Coast Association of Realtors, and the Economic Development
Council of Okaloosa County. All of the
organizations believe strongly in the need to be competitive in the world of
economic development. Our competition
isn’t our neighboring counties, but rather the other states in the southeast,
all of whom have very aggressive incentives.
Voting yes for jobs via this
referendum will give Okaloosa County, Destin, and Fort Walton Beach to enhance
incentives at the state level. (If
you’re voting in Fort Walton Beach, you have the opportunity to vote yes for
that city to implement EDATE, as well.)
The incentive will be used if the county commission and/or city councils
choose to provide it to a prospect, and they can choose the percentage and
length of time of the incentive too. Any
prospect or business who receives this incentive will be subject to an audit
each year to ensure they have followed the requirements of jobs created,
capital investment, and average wages.
Remember, when you go to the
polls on Aug. 26, vote yes for EDATE.
You’ll be voting to create jobs and build a better community. After all, that’s how we’ll continue to build
this world-class community one business at a time!
With wishes for continued
success, until next time,
Shane Moody, CCE, FCCP
President & CEO
Destin Area Chamber of Commerce