Marc Reicher
Chamber of Commerce

Creating jobs for Osceola County is a mission that every voter can make happen by approving a Nov. 2 referendum that would allow businesses to receive a break on their ad valorem property taxes in exchange for generating new jobs.

The referendum is the right seed to plant in our potentially rich job creation fields. The result will yield a crop of sorely needed jobs at a time when the county is facing unprecedented unemployment, catastrophic business closures and an unequalled number of home foreclosures.

The ad valorem tax exemption program is really a painless method to spark economic development.

Here’s why: This effort will not affect the amount of ad valorem property taxes any homeowner or existing business currently pays.

The incentive will be based on the number of new jobs being created, how much they pay and the total capital investment made by the company. Each applicant will be evaluated on those factors on a case-by-case basis with only new buildings and new equipment qualifying for the exemption.

The program will be in place for 10 years and the maximum tax cut could only last 10 years — but only applicants making the highest capital investments and bringing many, many high-wage jobs would be eligible for that kind of tax break. The amount of the exemption will also depend on the three factors already mentioned — number of jobs, salaries and capital investment.

There are no anticipated impacts to the county’s existing services as a result of the program. In fact, it has been shown that the financial benefits to a county from increased employment and business diversification outweigh any temporary reduction in ad valorem tax revenues. Existing facilities would not be removed from the tax rolls. And the exemption does not apply to city, school district or water management taxes.

With unemployment hovering around 12 percent, it makes sense to authorize this key economic development job creation tool. At least four other communities approved a similar measure in August — and about half of Florida’s 65 counties offer some form of tax abatement.

In addition to creating jobs, this policy will also grow the future tax base. The idea is that if a company is prepared to build and bring business and jobs here, Osceola County will also lend its hand.

We hope that on Nov. 2 voters will join us in planting the seeds for a bountiful crop of new jobs by voting yes for the creation of a tax cut for new businesses or expansion of existing businesses.

Marc Reicher is chairman of the Kissimmee /Osceola County Chamber of Commerce.