Carolyn DiPaoloPalm Beach County voters will decide whether to extend the county’s power to offer tax breaks to new and expanding businesses.
Palm Beach County has a longstanding program that offers a tax break to certain companies that expand or relocate here.
Why it matters: A question on the August ballot that has received little attention asks voters to decide whether the program should continue.
Flashback: Florida’s constitution (Article 7, Section 3) allows tax breaks, but they must be approved by voters every 10 years.
- In 2004, voters gave county commissioners the power to offer property tax exemptions for improvements to real estate or things like business equipment to companies that qualify.
- In 2012, voters renewed the program until Aug. 31, 2024.
How it works: Interested companies typically approach the public-private Business Development Board, said Jonathan Brown, the county’s Housing and Economic Development director. The BDB maintains strict secrecy over the company’s identity.
In a report to commissioners, county staff said 20 businesses won some kind of tax and/or cash incentive from the county between 2013 and 2023. The county tax incentive was used seven times.
- Those tax breaks went to companies including Pratt & Whitney; United Technologies and its Carrier air-conditioning and Otis elevator subsidiaries; and Orlando-based Finfrock construction company, which built a manufacturing center in Belle Glade.
- Combined incentive amounts for all the companies from sources including cities, the county and state totaled nearly $36 million.
- Those programs helped retain 2,246 jobs and create 2,800 more, the report said.
- The county puts the five-year economic impact at $5.7 billion.
The ballot question: Shall the Board of County Commissioners of Palm Beach County be authorized to grant, pursuant to s. 3, Art. VII of the State Constitution, property tax exemptions to new businesses and expansions of existing businesses that are expected to create new, full-time jobs in Palm Beach County?
What’s next: Early voting is from Aug. 10 to 18 for the Aug. 20 election.
I am a co-founder, writer and editor for Stet News. I am also a former senior editor at The Palm Beach Post. For 20 years, I oversaw some of the most consequential stories published by the paper, including the “Corruption County” reporting project that led to multiple arrests of elected officials. I am a member of the Leadership Palm Beach County Class of 2013. I live in West Palm Beach with my husband, Bill DiPaolo.
