Citizens for a Better Nassau - Economic Development Grant - "Not taxpayers' dollars"

Citizens for a Better Nassau

Media Release

June 13, 2016 10:00 a.m.

Being a part of our Nassau County community for so long makes it that much harder to hear some of the misinformation that is being spread about the county, including the fiscal challenges that some have tried to deny and the falsehoods being disseminated about our Economic Development Grant Program.

In fact, a recent letter was penned by our clerk of the court that ran in our local papers, expressing concerns about our current Economic Development Grant Program. But, back in 2012 when the clerk was consulted during the creation of the Economic Development Grant Program, he didn't express any concerns about the program.

Unfortunately, we are in an era where inflammatory language from politicians has

become commonplace in order to incite fear and anger, using terms, such as "super-accelerated growth" and "hyper-accelerated development." However, neither of these expressions accurately explains how growth works, as the market is what dictates the pace of growth. With terms like these being thrown around to foment fear and anger, it is difficult for our citizens to learn the truth about the challenges we face.

Nevertheless, we should be focusing on the merits of the Economic Development Grant Ordinance, weighing the pros and cons and considering the potential that this program holds for Nassau County. The economic incentives offered to new businesses through the program are not taxpayer dollars that are being given away; rather, they are a partial rebate on new tax dollars coming in for a period of time. And, in order for businesses to qualify, they must meet rigorous requirements that include jobs and new capital investment. Specifically, the ordinance dictates that

businesses must be in a targeted industry, create at least 10 new jobs and create at least $1 million in new capital investment in the county. Economic incentives are not simply given on a promise or on a whim. They are evaluated and measured, ensuring that they are the right fit for the county.

For example, in the case of LignoTech Florida, virtually all the services for the

facility will be provided by the City of Fernandina Beach, not by the county - even the roads that will be used to access the facility will be state and city roads. Meanwhile, the county will benefit, as LignoTech Florida will be investing $110 million and bringing more than 50 high-paying jobs. Even more, the county is estimated to collect more than $1 million in tax dollars from this partnership even during the 10-year rebate period, which is only expected to increase year after year. It's a win-win.

Any objective look at our county's deferred maintenance, dwindling reserves and many unfunded capital needs reveals that Nassau County is not fiscally healthy. The evidence shows we are heading down a dangerous path toward a fiscal cliff.

But, there's a way to back away from the cliff and solve the fiscal challenges that

we're up against. Only a simple solution is needed; however, it needs to start sooner rather than later. By broadening and diversifying our tax base with office, commercial and industrial growth, as well as compact mixed-use communities that largely internalize their impacts, we can protect taxpayers and our quality of life, maintain low residential property taxes and create a community that is less dependent on residential property taxes to fund all government services.

A proper evaluation of our county's financial health requires far more analysis than a snapshot in time encapsulated in a narrow annual audit of accounting practices. We have roads to pave and parks, buildings and other infrastructure to maintain as well. We need elected leaders that understand this and plan for the future or our fiscal outlook will grow bleaker.

Retired Nassau County Commissioner Jimmy L. Higginbotham and Retired Businessman Robert W. Spaeth are co-chairs of 'Citizens for a Better Nassau County.' For more information, please visit CitizensforaBetterNassau.com.