Publix Super Markets, Inc. Economic Development Ad Valorem Tax Exemption Ordinance Public Hearing: Orange County Board of County Commissioners June 30,

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Presentation transcript:

Publix Super Markets, Inc. Economic Development Ad Valorem Tax Exemption Ordinance Public Hearing: Orange County Board of County Commissioners June 30, 2015

 Publix Super Markets, Inc.  Pharmacy Distribution Center  67 New Jobs  115% of the Average Wage in Orange County  $15,600,000 Capital lnvestment  Job Functions Include; Warehouse Staff, Technicians, Pharmacists and Pharmacy Sales Project Overview

10+ jobs : New full-time jobs with wages higher than area average in manufacturing or “Target industry business” 25 +Jobs:New full-time jobs with more than 50% sales outside of Florida and net increase in employment/ output/sales of at least 10%; or Enterprise/ Brownfield:increases operations on-site located within the same zone co-located with a commercial or industrial operation owned by the same business Eligible Expansions of Existing Business

Property Tax Exemption Board Guidelines *Lowest number is determining factor LevelYearsAbatement % Jobs (Manufactu ring or QTI) Jobs (Business that sells more than 50% of goods outside of MSA) Jobs (New Business owning new office space) Capital InvestmentAvg. Wage Brownfield or Enterprise Zone Avg. Wage 1550%102550$200,000115%100% 2750% $500,000150%100% 3775% $1,000,000150%100% 41075% $10,000,000200%100% $25,000,000200%100% % $50,000,000200%100%

50% Exemption for 5 Years  Total Revenue Available to County for Current Fiscal Year - $399,760,603  Estimate of Revenue Lost During Current Fiscal Year if Exemption is Granted - $59,438*  Estimate of Taxable Value Lost - $13,402,934  Estimated Value of Exemption to Publix - $133,229 Recommendation

Requested Action  Approval of an Ordinance of Orange County, Florida relating to taxation; granting an economic development exemption from certain ad valorem taxation for Publix Super Markets, Inc.  Approval of Economic Development Ad Valorem Tax Exemption Agreement between Orange County and Publix Super Markets, Inc.

Publix Super Markets, Inc. Economic Development Ad Valorem Tax Exemption Ordinance Public Hearing: Orange County Board of County Commissioners June 30, 2015