Placement: Proclamations and Special presentations
Action Requested: Discussion
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A Presentation from the Mayor and City Council of Port St. Lucie to the Broward, Palm Beaches, and St. Lucie Realtors in Recognition of their Advocacy and Support of the City of Port St. Lucie’s Jobs Referendum.
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Submitted By: Elijah Wooten, Economic Development Administrator
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): In December 2021, the residents of Port St. Lucie approved the Port St. Lucie Job’s Referendum, which reauthorized the City of Port St. Lucie to offer the economic development ad valorem tax exemption to eligible companies that made a significant capital investment in new construction, machinery, and equipment and created high wage jobs.
Presentation Information: The Mayor and City Council will present a plaque to the Broward, Palm Beach, and St. Lucie Realtors in appreciation of their advocacy and support of Port St. Lucie’s Jobs Referendum.
Staff Recommendation: Request that the Council present a plaque to the Broward, Palm Beaches, and St. Lucie Realtors.
Background: In December 2021, the voters of Port St. Lucie approved the Port St. Lucie Jobs Referendum, which reauthorized the City of Port St. Lucie to offer the economic development ad valorem tax exemption to eligible targeted industries that invest significant capital investment in new construction, the purchase of machinery and equipment and retains and creates high wage jobs for Port St. Lucie residents and the region. The Broward, Palm Beaches, and St. Lucie Realtors assisted the City of Port St. Lucie educate residents and the business community on the importance of offering the economic development ad valorem tax exemption incentive to eligible businesses that were expanding or relocating to the City of Port St. Lucie.
Issues/Analysis: The economic development ad valorem tax exemption incentive program requires voter approval to reauthorize the use of the incentive program every ten years. In August 2022 the voters in St. Lucie County also approved the reauthorization of St. Lucie County to offer the economic development ad valorem tax exemption incentives to eligible targeted industries. The incentive program has helped retain and attract the following companies to the City of Port St. Lucie:
• Expert Shutters,
• City Electric Supply - TAMCO Manufacturing Division,
• Oculus Surgical,
• Accel International,
• Jan Steel,
• Cheney Brothers,
• FedEx Ground Packaging.
Financial Information: N/A
Special Consideration: N/A
Location of Project: N/A
Attachments: N/A
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: N/A
Legal Sufficiency Review:
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