BRADENTON – A ballot referendum on whether to extend a program that provides property tax incentives to certain businesses that locate to or expand in Manatee County passed 51-49 percent on Tuesday’s ballot.
In 2013, Manatee County voters approved a referendum authorizing the Board of County Commissioners to grant EDAVTE exemptions for qualifying businesses, but the board resolution for the program expires after a term of 10 years. The referendum appearing on this November's ballot is requesting the extension of the program for another 10 years.
Qualifying business applicants must submit an application to be considered for the tax incentives, and the minimum eligibility includes:
A business establishing 10 or more new jobs to employ 10 or more full-time employees in this state, paying an average wage for such new jobs that is above the average wage in the area, which principally engages in any one or more of the following operations:
Manufactures, processes, compounds, fabricates, or produces for sale items of tangible personal property at a fixed location and which comprises an industrial or manufacturing plant: or
Is a target industry as defined by FS 288.106(2)(q)
An expanding business establishing twenty-five (25) full-time jobs and sells more than 50% of products outside of Manatee County.
An office space in the County leased or owned and used by a corporation newly domiciled in Manatee County; provided such office space houses fifty (50) or more full-time employees of such corporation; provided that such business or office first begins operation on a site clearly separate from any other commercial or industrial operations owned by the same business.
The business must have legal title to real or personal property in order to apply. The EDAVTE approval process includes application, review by the Property Appraiser’s Office, and public hearing with the BCC. Please contact the Economic Development Official for more information and eligibility requirements.
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