Economic Development Ad Valorem Tax Exemption, or EDATE, is an incentive program renewed by Escambia County Voters in 2012 that authorizes the Board to grant qualifying businesses an exemption in their county property taxes of up to 100 percent for up to 10 years.
What are the benefits of EDATE?
The economic development ad valorem tax exemption program can diversify the county’s business base by encouraging industries that offer higher-than-average salaries to relocate to Escambia County and helping existing businesses expand. The program could also enable Escambia County to more effectively attract new businesses.
What is the economic development ad valorem tax exemption program?
The EDATE program is an economic incentive designed to encourage new businesses to relocate in Escambia County and existing businesses to expand to create new job opportunities for Escambia County residents. If approved, the program will authorize the Escambia County Commission to grant qualifying businesses a county property tax exemption up to 100 percent for up to 10 years.
Will the program create more competition for existing businesses?
The program was established to encourage diversification in the business community, not to create competition to existing businesses.
Can existing businesses take advantage of this opportunity?
The EDATE can apply to existing businesses that expand, purchase new equipment and create new jobs.
What taxes are eligible for exemption?
Escambia County property taxes on new improvements including qualifying buildings and equipment will be eligible. No current tax revenues are lost.