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.
Why are we required to provide an affidavit attesting that we are not owned by, organized under the laws of, or located in a foreign country?
Effective July 1, 2023, governmental entities are prohibited from entering into an agreement for an economic incentive with a foreign entity that is owned or controlled by, organized under the laws of, or located in a foreign country of concern. Before providing any economic incentive, the governmental entity must require the recipient to provide an affidavit attesting that the entity is not owned by, organized under the laws of, or located in a foreign country of concern. Pursuant to Section 288.007, Florida Statutes.
What are the foreign Countries of Concern?
“Foreign country of concern” means the People’s Republic of China, the Russian Federation, the Islamic Republic of Iran, the Democratic People’s Republic of Korea, the Republic of Cuba, the Venezuelan regime of Nicolás Maduro, or the Syrian Arab Republic, including any agency of or any other entity of significant control of such foreign country of concern.
